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4545 Santa Monica Blvd, Los Angeles, CA 90029
$2,195,000
4545 Santa Monica Blvd, Los Angeles, CA 90029View this property at 4545 Santa Monica Blvd, Los Angeles, CA 90029
4545 Santa Monica BlvdLos AngelesCA90029
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Property Description
We are pleased to present a 9,986 square foot redevelopment site that is ideal for ED1 located at 4541-4545 Santa Monica Boulevard in Los Angeles, California. The subject property is situated in a prime Virgil Village location two (2) blocks away from Silver Lake, west of Virgil Avenue and north of Santa Monica Boulevard. This offering is positioned on two (2) parcels totaling 9,986 square feet (SF) of land with a zoning ordinance of LAC2-1D where the D suffix is a limitation to the buildable area of the lot, and for conformance to the Vermont/Western Station Neighborhood Area Plan (SNAP). The property is a rare corner, double-lot along Santa Monica Boulevard with two (2) points of access for easy development. The current building is vacant, ready for immediate entitlement process under Executive Directive 1 (ED1). Under the State Density Bonus program CA Code 65915(f)(3)(a)(ii) and pursuant to ED1, the site has no maximum density when qualified as a 100% affordable development (b)(1)(G). Utilizing these guidelines, there is ample potential to design a project at almost any scale, up to around one hundred twelve (112) units while keeping the project under "high-rise" qualifications. Additionally, the site is AB 2097 eligible, meaning there is no minimum parking requirement for ED1 designs, Buyer to verify. The location carries strong market fundamentals, ranking as one of the highest LA County submarkets for apartment unit market absorption. Positioned in a prime Virgil Village location two (2) blocks away from Silver Lake, this offering presents a rare opportunity for an astute developer to capitalize on redeveloping a rare corner, double-lot under ED1 in a core market of Los Angeles.
Full Property Details
Full Property Details for 4545 Santa Monica Blvd
General
- Price: $2,195,000
- Status: Active
- Type: Lots/Land
- MLS ID: 24-378603
- Updated: 4/10/2024
- Added to Site: 31 day(s) ago
Location
- Area: Silver Lake - Echo Park
- County: Los Angeles
- Driving Directions: The subject property is situated in a prime Virgil Village location two (2) blocks away from Silver Lake, west of Virgil Avenue and north of Santa Monica Boulevard.
Lot Features
- Property View: City
- Lot Size (Acres): 0.23
- Lot Size: 9986
- Lot Size Source: Assessor
- Topography: Flat
- Lot Features: City, Corner Lot
- Present Use: Vacant Laundromat on a Corner, Double-Lot
- Potential Use: Under ED1, there is Potential to Build Up to 112 Residential Units while Staying Under "High-Rise" Qualifications
- Zoning: LAC2
- Lot Description: 2-4 Lots, Redevelopment Area, Lot Shape-Rectangular, Sidewalks, Value In Land
Financial Considerations
- Price Per Sq. Ft.: $878
Disclosures and Reports
- Disclosures/Reports: As Is
- APN: 5542-026-042
Listed by Marcus & Millichap, Jason Tuvia
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Schools
Schools serving 4545 Santa Monica Blvd
School District:Los Angeles Unified School District
Rating | Name | Grades | Distance |
---|---|---|---|
4345 Lockwood Ave, Los Angeles, CA 90029 | K-6 | 0.2 mi | |
4201 Fountain Ave, Los Angeles, CA 90029 | 6-8 | 0.6 mi | |
3939 Tracy St, Los Angeles, CA 90027 | 9-12 | 1.3 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 4545 Santa Monica Blvd
Date
Details
Price
Change
Source
4/10/2024
Listed
$2,195,000
-4.57%
MLS
10/10/2018
Sold
$2,300,000
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 4545 Santa Monica Blvd
Year
Property Taxes
Change
Tax Assessment
Change
2023
$6,370
5%
$509,295
2%
2022
$6,076
1%
$499,309
2%
2021
$6,010
-1%
$489,519
1%
2020
$6,070
4%
$484,500
2%
2019
$5,833
3%
$475,000
3%
2018
$5,684
48%
$459,000
50%
2017
$3,838
2%
$305,738
2%
2016
$3,763
1%
$299,744
2%
2015
$3,710
—
$295,242
2%
2014
$3,721
—
$289,459
—
2013
$3,721
—
$288,151
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 4545 Santa Monica Blvd
4545 Santa Monica Blvd, Los Angeles, CA 90029 (MLS# 24-378603) is a Lots/Land property with a lot size of 0.2300 acres. 4545 Santa Monica Blvd is currently listed for $2,195,000 and was received on April 10, 2024. Want to learn more about 4545 Santa Monica Blvd? Do you have questions about finding other Lots/Land real estate for sale in Silver Lake? You can browse all Silver Lake real estate or contact a Coldwell Banker agent to request more information.