10621 Wilkins Ave, Los Angeles, CA 90024
Single Family for Development in Westwood
SOLD: $2,526,000 PRICE PER SQUARE FOOT/LAND: $374
We are pleased to announce the sale of 10621 Wilkins Ave a single family residence situated on an R3 zoned lot offering strong redevelopment potential. The property sold for $2,526,000 which equates to $389 per square foot of land.
The buyer was a developer who plans to redevelop the site into six apartment units capitalizing on the zoning and density potential. The transaction was completed as an all cash purchase with a swift 21 day close demonstrating strong execution and confidence in the long term value of the site.
This sale highlights continued demand for infill development parcels in prime Los Angeles neighborhoods. David Saghian represented the buyer in this transaction.
Investment Highlights
Prime R3 zoned development site sold for $2,526,000 at $374 per square foot of land
Former single family residence with plans to develop 6 new apartment units
All cash buyer closed in 21 days demonstrating strong execution and certainty
Excellent opportunity to capitalize on small scale multifamily development in a high demand infill location
Property acquired by a developer with David Saghian representing the buyer
Exclusively Listed & Sold By:
David Saghian
(310) 401-1559
dsaghian@lyonstahl.com