Description
Prime Palms Neighborhood 30 Unit Mixed-Use Development Site
3641 Motor Avenue presents a rare opportunity for developers with multiple options to maximize the site’s potential. The site can accommodate the development of 63 units with no parking with a ministerial and streamlined application process using the CHIP OC-3 density bonus rules. Of the 63 units, 73% will be market rate. The property can be purchased as a fully entitled 30-unit project with permits already pulled, allowing the buyer to save an estimated $200,000 in fees. The current approved plans feature a six-story, 30-unit residential building totaling approximately 24,000 Sq.Ft., with a unit mix of 15 one-bedroom and 15 two-bedroom units, including 3 Extremely Low Income (ELI) units. The design includes 3,375 Sq.Ft. of open space, highlighted by a 2,580 Sq.Ft. rooftop common area, one level of subterranean parking, and a ground-floor retail space. Alternatively, developers can leverage a multitude of other state and regional density rules, including CHIP OC-3 density bonus laws to significantly increase density, with the potential to build up to 63 units on the 7,998.7 Sq.Ft. lot (to the center of the alley). Located in the heart of prime West Los Angeles, 3641 Motor Avenue offers unbeatable access to top-rated restaurants like Citizen Public Market and Versailles Cuban, vibrant nightlife spots such as Blind Barber and Boardwalk 11, cultural hubs like the Helms Bakery District, and seamless connectivity via the Palms Metro Line Station, making it an ideal destination for tenants seeking a dynamic urban lifestyle.
Property Features:
- Build up to 63 Units using new CHIP OC-3 density bonus laws
- Only $54,000 per Buildable Door in Prime West LA
- Proposed six story building with one level of subterranean parking
- Property is fully entitled and permits ALREADY PULLED for a 30-unit, 24,000 sq.ft. project.
- Over $200,000 value in having permits already pulled. Permits to be assigned to Buyer at close of escrow.
- Lot measures 7,998.7 square feet to the center of the alley.
- Unit mix: 15 one-bedroom units, and 15 two-bedroom units
- Open space: 3,375 square feet. The roof has 2,580 square feet of the total required open space
- There is one retail space on the ground floor.
- 3 ELI (extremely low income) units
- Roof top open-space
- One level of subterranean parking with five stories above it and an open rooftop
- Great location with 0.5 miles of the Palms Metro Line Station and minutes from Downtown Culver City
- Located in the heart of prime West Los Angeles, 3641 Motor Avenue offers unbeatable access to top-rated restaurants like Citizen Public Market and Versailles Cuban
