845 South Le Doux Rd Los Angeles, CA 90035
Prime Land In Beverly Hills Adjacent Location
SOLD: $2,700,000 PRICE/BUILDABLE UNIT: $192,857 PRICE PER SQUARE FOOT/LAND: $450
We are pleased to announce the record breaking off market sale of 845 S Le Doux Rd a premier Beverly Hills adjacent development opportunity located in one of the most sought after residential pockets of the 90035 zip code. The property sold for $2,700,000 representing an exceptional land basis of $450 per square foot on a 6,000 square foot parcel making it one of the highest recorded residential land trades in the area.
The property is not subject to SB330 or SB requirements eliminating the obligation for low income replacement and providing developers with greater flexibility. The buyer plans to redevelop this site along with the adjacent property into 34 residential units under the Transit Oriented Communities Program Tier 3 further enhancing density and long term value potential.
This irreplaceable location benefits from a strong tenant and neighborhood demographic with average household incomes exceeding $120,000 and proximity to Beverly Hills along with premier dining retail and entertainment corridors. The asset was sold off market above prevailing market thresholds highlighting strong investor confidence in this submarket.
David Saghian represented both the buyer and seller in this transaction, delivering a seamless and highly strategic closing for all parties involved.
Investment Highlights
Record breaking sale achieving $450 per square foot on land for residential zoning in the 90035 zip code
Irreplaceable Beverly Hills adjacent location in a highly supply constrained development corridor
Property sold off market at $2,700,000 above market threshold
6,000 square foot site with plans to redevelop the subject and adjacent parcel into 34 units under TOC Tier 3
Not subject to SB330 or low income replacement requirements providing maximum development flexibility
Strong surrounding demographic with average household income exceeding $120,000
Prime covered land redevelopment opportunity with significant long term upside
Buyer and seller represented by David Saghian
Exclusively Listed & Sold By:
David Saghian
(310) 401-1559
dsaghian@lyonstahl.com