2625 Cullen Street Los Angeles, CA 90034
Development Site Near Culver City
SOLD: $1,620,000 PRICE PER SQUARE FOOT/LAND: $270
We are pleased to announce the sale of 2625 South Cullen Street a 6,000 square foot development site located in the heart of Mid City Los Angeles. The property sold for $1,620,000 which reflects $270 per square foot on land. The buyer also acquired the adjacent parcel creating a larger combined development opportunity.
The site is slated for an ED1 affordable housing project which allows for an expedited entitlement process and significantly streamlined approvals. Current plans call for a new six story building featuring affordable residential units along with onsite parking. The project will require the demolition of five small residential structures currently on the property.
Located in a centrally positioned urban pocket with strong transit access and proximity to major employment hubs the site offers an exceptional opportunity to deliver much needed affordable housing to the City of Los Angeles. This sale reflects continued demand for ED1 eligible sites as developers seek faster pathways to housing production and long term value creation.
Investment Highlights
6,000 square foot Mid City development site sold for $1,620,000 at $270 per square foot
ED1 affordable housing project planned allowing for expedited approvals and streamlined entitlement Buyer also purchased the adjacent parcel creating a larger combined development opportunity
Future plans call for a six story building with affordable units and onsite parking following demolition of five existing residential structures
Centrally located in a high demand infill pocket with strong transit access and proximity to major employment hubs
David Saghian represented both buyer and seller
Exclusively Listed & Sold By:
David Saghian
(310) 401-1559
dsaghian@lyonstahl.com