Bellwood Assemblage
4 Properties Offered at $37,888,888 in Los Angeles, CA
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INVESTMENT HIGHLIGHTS
- We are pleased to present a generational investment opportunity in an A+ trophy location on Bellwood Ave in Century City just off W Olympic Blvd.
- 10341 Bellwood Ave: 13 apartment units vacated via the Ellis Act; 15,893 SF lot; zoned C2-1VL-O
- 10368–10384 ½ Bellwood Ave: 17 bungalow-style apartments built in 1940; 7,376 SF building on a 21,829 SF lot
- This offering includes two development lots and 99 apartment units spanning seven parcels on Bellwood Ave.
- 10330 Bellwood Ave: Vacant lot; 12,091 SF; zoned C2-1VL-O in a Tier 3 TOC
- 10340–10360 Bellwood Ave: 82 apartment units built in 1948; 24,275 SF building on a 27,266 SF lot
EXECUTIVE SUMMARY
The Neema Group of Marcus & Millichap and Taksa Investment Group of RE/MAX Commercial & Investment Realty present a rare and exceptional investment opportunity in Century City, one of Los Angeles’ most prestigious and sought-after locations. Situated on Bellwood Avenue, just off West Olympic Boulevard, this portfolio encompasses seven parcels offering a combination of development potential and apartment units.
This assemblage includes two development lots and 99 apartment units across seven parcels. The properties feature significant redevelopment opportunities, such as the 13 vacated units at 10341 Bellwood Avenue and the 12,091-square-foot vacant lot at 10330 Bellwood Avenue, both zoned C2-1VL-O, allowing for substantial new construction by-right or with density bonuses. The other properties include 17 bungalow-style units at 10368– 10384 ½ Bellwood Avenue, 12 of which have been fully renovated to modern
standards, and 82 units at 10340–10360 Bellwood Avenue, with 60 units similarly upgraded.
The mid-century architecture of these properties, including Streamline Moderne and bungalow-style designs, offers not only aesthetic appeal but also the potential for Mills Act designation, which could provide significant property tax reductions. Located just minutes from Westfield Century City, a premier luxury shopping and lifestyle destination, these properties are ideally situated to capitalize on the area’s robust demand for housing.
Century City’s continued growth, coupled with its status as a hub for major entertainment, legal, and financial firms, ensures strong demand and high barriers to entry, making this portfolio a unique opportunity for longterm capital appreciation and value creation. This offering represents a generational investment in a prime location, allowing investors to control a significant and strategic assemblage in one of Los Angeles’ most dynamic neighborhoods.
This assemblage includes two development lots and 99 apartment units across seven parcels. The properties feature significant redevelopment opportunities, such as the 13 vacated units at 10341 Bellwood Avenue and the 12,091-square-foot vacant lot at 10330 Bellwood Avenue, both zoned C2-1VL-O, allowing for substantial new construction by-right or with density bonuses. The other properties include 17 bungalow-style units at 10368– 10384 ½ Bellwood Avenue, 12 of which have been fully renovated to modern
standards, and 82 units at 10340–10360 Bellwood Avenue, with 60 units similarly upgraded.
The mid-century architecture of these properties, including Streamline Moderne and bungalow-style designs, offers not only aesthetic appeal but also the potential for Mills Act designation, which could provide significant property tax reductions. Located just minutes from Westfield Century City, a premier luxury shopping and lifestyle destination, these properties are ideally situated to capitalize on the area’s robust demand for housing.
Century City’s continued growth, coupled with its status as a hub for major entertainment, legal, and financial firms, ensures strong demand and high barriers to entry, making this portfolio a unique opportunity for longterm capital appreciation and value creation. This offering represents a generational investment in a prime location, allowing investors to control a significant and strategic assemblage in one of Los Angeles’ most dynamic neighborhoods.
PROPERTY FACTS
Price | $37,888,888 |
Price / SF | $1,197 / SF |
Sale Type | Investment |
Status | Active |
Number of Properties | 4 |
Individually For Sale | 0 |
Total Building Size | 31,651 SF |
Total Land Area | 1.77 AC |
PROPERTIES
PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
---|---|---|---|---|
10340-10360 Bellwood Ave, Los Angeles, CA 90064 | Multifamily | 24,275 SF | 1948 | - |
10368-10384 1/2 Bellwood Ave, Los Angeles, CA 90064 | Multifamily | 7,376 SF | 1940 | - |
10341 Bellwood Ave, Los Angeles, CA 90064 | Land | 0.36 AC | - | - |
Prime Century City Development Opportunity
10330 Bellwood Ave, Los Angeles, CA 90064 |
Land | 0.28 AC | - | - |
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