1656 Sawtelle Blvd

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Created date: September 21, 2023
Date last updated: March 19, 2024
  • RTI Site to Build 33 Units
  • Demo Already Completed
  • Great Mix of 1 & 2 Bed Units
  • Build 24,804 SqFt Envelope
  • Prime Location | 95 Walk Score

Property Description

The LAAA Team of Marcus & Millichap in partnership with AJ Jamasbi is excited to present a primely located development opportunity located at 1656 Sawtelle Blvd, Los Angeles, CA 90025. The project is ready for immediate construction with the plans being fully approved and RTI (ready to issue). Also, the old structure on the lot has already been demolished allowing for an even quicker construction start date. The RTI plans call for the development of 33 apartment units that will span an 24,804 square feet of gross building area. The proposed design includes 21 one-bedroom/one-bath and 12 two-bedroom/one-bath apartments, four of which are designated for very low-income tenants. This opportunity provides a unique advantage to bypass SB330 regulations and develop 33 units in a prime location at the heart of one of Los Angeles' most booming sub-markets. West Los Angeles is a continually growing area with some of the lowest vacancy rates in the county. 1656 Sawtelle is located in the the Sawtelle neighborhood of West Los Angeles which is a vibrant and eclectic area that serves as a cultural crossroads, most notably highlighted by its "Little Osaka" district that showcases a rich blend of Japanese and American culture. This diverse and bustling community is a food lover's paradise, renowned for its array of sushi bars, ramen houses, and specialty grocery stores, as well as a variety of other international cuisines. Not just a gastronomic haven, Sawtelle is also a commercial and residential hub, featuring trendy boutiques, art galleries, and modern apartment complexes. The neighborhood enjoys excellent accessibility, bordered by major arteries like the 405 Freeway and Santa Monica Boulevard, making it convenient for both residents and visitors. Adding to its allure are its green spaces such as Stoner Recreation Center, where families can enjoy outdoor activities in a relaxed setting. With its unique blend of cultural diversity, commercial vitality, and residential comfort, Sawtelle offers a microcosm of what makes West Los Angeles one of the most desirable places to live and visit.

Key Property Information

Listing Status: Available
Property Types: Apartment Buildings
Price: $3,995,000
No. of Units: 33
Lot Size: 6,988.00 Sq ft
APN: 4261-008-013
Zoning Code: C2-1VL
Opportunity Zone: Yes
Price per unit: $121,061
Property Website Click Here

Additional contacts

Full name Phone number Email address
Filip Niculete 818-212-2748 [email protected]
Glen Scher 818-212-2808 [email protected]

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