CA > Los Angeles
Los Angeles, CA 90049,11378 Ovada PL
Los Angeles, CA 90049,11378 Ovada PL
Los Angeles, CA 90049,11378 Ovada PL
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$6,800,000
Est. payment /mo
0.3 Acres Lot
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UPDATED:

Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID 25519291

HOA Y/N No

Lot Size 0.300 Acres

Property Description

We are proud to present 11378 Ovada Place, a rare opportunity for developers to acquire a premier site in the heart of Bel-Air, offering multiple development pathways to maximize value. Situated on a tranquil, tree-lined cul-de-sac, this property provides a unique blend of exclusivity and convenience. Development Options: Small Lot Subdivision The proposed plan features an 8-unit small lot subdivision with a mix of five (2-bedroom) and three (3-bedroom) townhomes spanning four levels. Each residence includes:* Private garages with direct unit access* Expansive open-concept living areas with a guest powder room* Well-appointed third-floor sleeping quarters* Private rooftop decks with stunning views. The permit process is in progress, awaiting a housing letter before proceeding to hearings and final approvals, expected in the coming months. ED1 Low-Income Housing Development The site can alternatively support an approximate 90-unit ED1 project with a ministerial, streamlined approval process requiring no parking, offering a fast-track path to development.CHIP OC-3 Density Bonus Project Another option includes a mixed-income development under CHIP OC-3 guidelines, allowing for approximately 70% market-rate units while leveraging density incentives. Existing Income-Generating Property:The site currently features a 4-unit building, consisting of:Three (2-bedroom) units Two leased at $2,343 and $2,731 respectively, with one vacant.One (1-bedroom) unit Currently vacant. Please do not disturb or alert the tenants of the potential sale.This is a rare chance to develop in one of Los Angeles' most sought-after neighborhoods.

Location

State CA

County Los Angeles

Area C04 - Bel Air - Holmby Hills

Zoning LARD1.5

Interior

Fireplace No

Exterior

View Y/N No

View None

Building

New Construction No

Others

Senior Community No

Tax ID 4368016011

Special Listing Condition Standard

Read Less Info
California Regional MLS (CRMLS)
Listed by David Miller • Miller & Desatnik Realty Co.

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