4545 Santa Monica Blvd, Los Angeles, CA 90029
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4545 Santa Monica Blvd Los Angeles, CA 90029

$2,195,000
  • -- Beds
  • -- Baths
  • -- Sq.Ft.
Back Up Offer
$2,195,000 Get Pre-Qualified

Map preview of 4545 Santa Monica Blvd, Los Angeles, CA 90029

Property Overview: 4545 Santa Monica Blvd Los Angeles, CA has -- bedrooms, -- bathrooms, -- living square feet and 9,986 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: 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.

Listed by Jason Tuvia | BRE #01772495 | Marcus & Millichap
Last checked: 3 minutes ago | Last updated: May 24th, 2024 | Source CRMLS | DOM: 102
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Home details

Lot Sq. Ft
9,986
HOA Dues
$0/mo
Year built
--
Garage
--
Property Type:
Land
Status
Back Up Offer
MLS#
24378603
City
Los Angeles
County
Los Angeles
Time on Site
103 days

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Property Details for 4545 Santa Monica Blvd

Lot Details / Garage and Parking
Lot Information
  • Lot Features: Rectangular Lot, Value In Land
  • Lot Size Source: Assessor
Property Information
  • Has View
  • View: City Lights
  • Parcel Number: 5542026042
  • Has Additional Parcels
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • 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.
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Sale History for 4545 Santa Monica Blvd

Last sold for $2,300,000 on November 21st, 2018
  • May, 2024

  • May 23, 2024

    Date

    Back Up Offer

    CRMLS: 24378603

    $2,195,000

    Price

  • Apr 10, 2024

    Date

    Active

    CRMLS: 24378603

    $2,195,000

    Price

  • November, 2023

  • Nov 8, 2023

    Date

    Expired

    CRMLS: 23258891

    $2,550,000

    Price

  • Apr 10, 2023

    Date

    Active

    CRMLS: 23258891

    $2,950,000

    Price

  • Listing provided courtesy of CRMLS

    We are pleased to present a 9,986 square foot nearly RTI redevelopment site 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 project is offered with RTI plans for a five-story luxury mixed-use redevelopment. Tier 3 TOC allows the RTI plans to feature twenty-three (23) total units. Additionally, the TOC bonus incentives allow for a 72ft height limit, an increase to the transitional height, a reduction to open space, and a front step back height increase. The plans include three (3) commercial use spaces on the ground level and the second floor. Twenty-three (23) parking spaces are planned for the residential units in a subterranean gated garage, and nine (9) parking spaces are planned for the commercial units on the ground level. The project boasts numerous luxury amenities such as a two-story gym, open space patio, two (2) lobbies, bicycle parking, a public theater space, a conference room, roof decks, a pool, and more. With TOC incentives, a developer has the option to modify the RTI plans and build up to forty-three (43) residential units. 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 a nearly RTI project for a luxury mixed-use redevelopment.

  • November, 2018

  • Nov 21, 2018

    Date

    Sold (Public Records)

    Public Records

    $2,300,000

    Price

  • June, 2017

  • Jun 9, 2017

    Date

    Sold (Public Records)

    Public Records

    $1,960,000

    Price

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Tax History for 4545 Santa Monica Blvd

Assessed Value (2020): --
Year Land Value Improved Value Assessed Value
2020 $484,500 -- --

Home Value Compared to the Market

This property vs the competition

4545 Santa Monica Blvd is listed 82.92% higher than the median list price for the city of Los Angeles which has a median list price of $1,199,999.

About 4545 Santa Monica Blvd

Detailed summary of property

4545 Santa Monica Blvd is a land located in Los Angeles, CA 90029 and is currently in escrow to be sold. This land offers -- bedrooms, -- bathrooms, roughly -- living square feet, and sits on an approximately 9,986 square foot lot. 4545 Santa Monica Blvd was first listed on ArdentRealEstateGroup.com on April 10, 2024. The homeowner is currently asking $2,195,000. The median priced home in Los Angeles is $1,199,999 with a median price per square foot of $771. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 82.92% higher than the median priced home. Local competing homes currently for sale include 1222 N Beachwood Dr, 958 S Grand View St and 702 Crenshaw Blvd. While the average home in Los Angeles, CA is selling in 102 days, 4545 Santa Monica Blvd has a days on market of 102 days. There are currently 4091 homes for sale in the Los Angeles real estate market and 2731 of them are single family homes while 1235 of them are condos and 119 are townhomes. For more information on this home for sale at 4545 Santa Monica Blvd Los Angeles, CA 90029 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 4545 Santa Monica Blvd

Public county record property details
Beds
--
Baths
--
Year built
2004
Sq. Ft.
2,500
Lot Size
2,537
Stories
--
Type
Parking Lot
Pool
No
Spa
No
County
Los Angeles
Lot#
1
APN
5542-026-042

The source for these homes facts are from public records.

90029 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$970,000
Median List Price/Sq.Ft.
$700
Median Sold Price
$1,595,000
Median Sold Price/Sq.Ft.
$842
Total Inventory
29
Median Sale to List Price %
100%
Avg Days on Market
26
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (14.29%), Other (0%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.