1967 Preuss Rd Los Angeles, CA 90035
Development Site in Beverlywood
SOLD: $1,850,000 PRICE PER SQUARE FOOT/LAND: $213
We are pleased to announce the sale of 1967 Preuss Road an irreplaceable Beverlywood adjacent development opportunity located in one of the most stable and highly sought after neighborhoods in West Los Angeles. The property sold for $1,850,000 which equates to $213 per square foot of land. The site consists of a large 8,684 square foot lot zoned LA RD 1.5 plus a 15 foot alley providing excellent redevelopment flexibility.
The buyer plans to redevelop the property into six townhomes plus two ADUs catering to the strong local tenant and homeowner demographic. The surrounding area benefits from average household incomes exceeding $100,000 and consistent demand for new high quality residential units.
This acquisition served as the buyer’s up leg in a 1031 tax deferred exchange. The buyer submitted an all cash offer and successfully closed in 14 days demonstrating speed and certainty of execution.
The transaction highlights continued investor demand for infill development sites in premium West Los Angeles locations. David Saghian represented both the buyer and seller in this sale.
Investment Highlights
Irreplaceable Beverlywood adjacent location in a high demand West Los Angeles neighborhood
Strong surrounding demographic with average household incomes exceeding $100,000
Large 8,684 square foot lot zoned LA RD 1.5 plus a 15 foot alley offering excellent redevelopment flexibility
Buyer plans to develop six townhomes plus two ADUs to meet strong local demand for new residential product
Property served as the buyer’s up leg in a 1031 tax deferred exchange
All cash offer with a 14 day close demonstrating strong buyer certainty and execution
David Saghian represented both buyer and seller
Exclusively Listed & Sold By:
David Saghian
(310) 401-1559
dsaghian@lyonstahl.com