110-116 S Kings Rd Los Angeles, CA 90048
14,000+ Sq Ft Devlopment Lot in Prime Beverly Grove
SOLD: $4,350,000 CAP RATE: 3.25% GRM: 16.50 PRICE PER SQUARE FOOT: $530
We are pleased to announce the sale of 110–116 S Kings Rd a rare double lot development opportunity located in a prime AAA Beverly Grove location adjacent to West Hollywood and Beverly Hills. The combined lots total more than 14,000 square feet and are zoned LA R3 with generous dimensions measuring approximately 108 feet wide by 131 feet deep offering exceptional flexibility for future development.
The property sold for $4,350,000 which equates to $307 per square foot of land and approximately $99,000 per buildable unit. The site includes full entitlement plans for 40 units plus 4 ADUs proposed through the CHIPS Program allowing a developer to move forward efficiently with a high density project in one of the strongest multifamily markets in Los Angeles.
The asset also serves as a covered land investment providing income during the entitlement process. The escrow was clean with no credits requested from the buyer demonstrating strong interest and confidence in the future development potential.
The transaction was handled professionally from start to finish with David Saghian representing both the buyer and the seller.
Investment Highlights
Prime AAA Beverly Grove location adjacent to West Hollywood and Beverly Hills
Rare double lot development opportunity with more than 14,000 square feet zoned LA R3 featuring generous 108 foot width and 131 foot depth
Entitlement plans in process for 40 units plus 4 ADUs under the CHIPS Program
Strong covered land investment generating income during the entitlement and planning period
Smooth clean escrow with no credits requested by the buyer
Buyer and seller represented by David Saghian
Exclusively Listed & Sold By:
David Saghian
(310) 401-1559
dsaghian@lyonstahl.com