Thank you
Eric Chen
CB RICHARD ELLIS
909-418-2000
4529 Don Ricardo Drive (the "Property"), a 27-unit, ±14,572 SF multifamily development opportunity, in the Baldwin Hills Estates neighborhood of Los Angeles. Nestled between two condo developments on Don Ricardo Drive between Hillcrest Drive and Don Jose Drive, the offering presents a unique opportunity to acquire a parcel of land atop the Baldwin Hills Estates hillside with unobstructed panoramic views of Downtown Los Angeles, Hollywood, and West Los Angeles. The Baldwin Hills-Crenshaw neighborhood has seen an increasing amount of attention from developers due to the Crenshaw/ LAX Metro rail line expansion project. Major thoroughfares surrounding the land parcel include La Brea Avenue, Crenshaw Boulevard and Stocker Boulevard. The location offers a myriad of retail options, a plethora of major employers nearby, excellent accessibility to coastal cities and highways that connect to the rest of Southern California. 4529 Don Ricardo Drive will feature a six-story, 27-unit building with contemporary-style exterior and interior design, fully-equipped luxury in-unit amenities, and a rooftop deck featuring a pool, cabanas, yoga deck, dog park, BBQ grills, and more. The development is situated on one parcel of land for a total lot size of ±14,572 SF. The architectural plans propose for ±30,316 total rentable net square feet and ±8,068 total square feet of amenity space totaling ±38,384 gross square feet. The hillside unit mix will encompass one, two- and three-bedroom floor plans ranging from 961 to 1,610 SF. The in-unit amenities will include central air conditioning and heating, state-of-the-art stainless-steel appliances, balconies/patios and much more. EV charging stations are possible with plans allotted for 36 parking spaces total. The property offers convenient access to the 10, 110 and 405 freeways and neighboring cities in the county—Culver City, Beverly Hills, and the thriving city of Playa Vista, a.k.a. Silicon Beach, which is the new hub for tech titans like Facebook, Google, YouTube Space LA, Verizon and more. The newly developed, The Campus in Playa Vista, is within a quick 6-mile drive away. 4529 Don Ricardo Drive is a prime multifamily development opportunity that will serve as a fantastic long-term investment. The property is in an exceptional area, with desirable underlying zoning in place, and offers a rare opportunity for a developer to build new product in this neighborhood.
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Water Source : Public
Sewer : Public Sewer
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.3345
Lot Size Source: Assessor
Lot Size Square Feet: 14572
Original List Price: 1,849,000
Listing Contract Date: 2023-10-25
Listing Agreement: Exclusive Right To Sell
Parcel Number: 5028006002
Annual Tax: 12175.9
Lease Term: Negotiable
Source Listing Status: Active
Source Neighborhood: BLDH - Baldwin Hills
Directions: Take I-10W, Exit La Brea Ave, Turn Left onto Obama Blvd, Turn Right onto W Martin Luther King Jr Blvd, Turn Right onto Hillcrest Dr, Turn Right onto Don Ricardo Dr
Zoning: LAR3
Source Property Type: Land
Area: BLDH - Baldwin Hills
Year Built Source: Vendor Enhanced
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
5261 Weatherford Drive, Los Angeles, CA,90008 | $400,000 | -- | -- | -- | 4017 Sqft |
4436 Don Felipe Drive, Los Angeles, CA,90008 | $1,990,000 | 4 | 3 | 3,500 | 8157 Sqft |
3968 Arlington Avenue, Los Angeles, CA,90008 | $1,200,000 | 5 | 5 | 2,720 | 8143 Sqft |
3834 Dublin Avenue, Los Angeles, CA,90008 | $1,888,888 | 5 | 4 | 3,988 | 6740 Sqft |
3874 Arlington Avenue, Los Angeles, CA,90008 | $1,109,900 | 4 | 3 | 1,730 | 8085 Sqft |
3860 Hepburn Avenue, Los Angeles, CA,90008 | $1,126,000 | 3 | 2 | 1,850 | 6001 Sqft |
3740 Santa Rosalia Driv.., Los Angeles, CA,90008 | $599,000 | 2 | 2 | 1,020 | 65211 Sqft |
2618 W Martin Luther Ki.., Los Angeles, CA,90008 | $1,195,000 | -- | -- | -- | 5910 Sqft |
4515 Don Quixote Drive, Los Angeles, CA,90008 | $1,499,000 | 3 | 2 | 1,479 | 7903 Sqft |
4080 Leimert Boulevard, Los Angeles, CA,90008 | $1,265,000 | 6 | -- | 2,164 | 4125 Sqft |
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ByOwner last updated this listing 05/21/2024 @ 05:09
MLS: CV23199199
LISTED BY: ERIC CHEN, CB RICHARD ELLIS
SOURCE: CRMLS
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.