10622 Ayres Ave Los Angeles, CA 90064
Development in Rancho Park
SOLD: $2,100,000 PRICE PER SQUARE FOOT/LAND: $350
We are pleased to announce the record breaking sale of 10622 Ayres Ave a prime residential development site located in the highly sought after 90064 zip code. The land sold for $2,100,000 representing a record price of $350 per square foot for R2 zoned land in this submarket.
The buyer subsequently developed the site into two beautiful townhomes transforming the property into high quality new construction that complements the surrounding neighborhood. This transaction highlights the strong demand for well located infill development opportunities in Cheviot Hills and West Los Angeles.
David Saghian represented both the buyer and the seller in this transaction delivering a strategic acquisition that maximized value for all parties involved.
Investment Highlights
Record breaking land sale for R2 zoning in the 90064 zip code at $350 per square foot
Sold for $2,100,000 and later developed into two high end townhomes
Prime West Los Angeles location with strong long term residential demand
Rare opportunity to secure infill land with immediate redevelopment potential
Demonstrates exceptional value creation from acquisition through development
David Saghian represented both the buyer and the seller in the transaction
Exclusively Listed & Sold By:
David Saghian
(310) 401-1559
dsaghian@lyonstahl.com