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12402 Washington Place
Culver City, CA 90066

Price: $4,500,000 Zoning: CCCG
Bldg SF: 1,534 SF Land SF: 15,355 SF
Click to View Offering MemorandumClick to Print Offering Memorandum

Exclusively Listed by:
Brandon Michaels
(818) 212-2794
bmichaels@marcusmillichap.com
License # 01434685

Address: 12402 Washington Place, Culver City, CA 90066
Price: $4,500,000
Bldg SF: 1,534 SF
Land SF: 0.35 Acres (15,355 SF)
Current Occupancy: 100% (Single Tenant)
Zoning: CCCG
Multi-Family By-Right Development: 35 Units per acre; 50 Units Per Acre with Community Benefits
Density Bonus: 35%
Click to View Offering MemorandumClick to Print Offering Memorandum

Exclusively Listed by:
Brandon Michaels
(818) 212-2794
bmichaels@marcusmillichap.com
License # 01434685

Investment Highlights

Irreplaceable West Los Angeles Location

  • SW Signalized corner of Washington Place and South Centinela Avenue
  • Direct access to the 405 San Diego Freeway within close proximity to Century City, Westwood, Brentwood, Santa Monica, Bel Air, and Beverly Hills
  • Highly desirable and affluent Culver City location
  • Significant development in the immediate area
  • A true walkers paradise with direct access to transit
  • Five curb cuts allow for excellent access along Washington Place and South Centinela Avenue

 

Prime Development or Owner-User Opportunity

  • 15,355 SF of Land
  • CCCG zoning allows for a plethora of potential uses
  • 50 units per acre with community benefits with an additional state density bonus allowing for an increase in FAR and density
  • Ideal for multi-family, mixed-use, creative office, hotel, or retail
  • The current zoning allows for a drive-thru
  • 1,534 SF existing structure can be immediately occupied or expanded upon by an Owner-User Buyer

 

Affluent and Densely Populated West Los Angeles Submarket

  • Household income north of $114,000
  • Over 657,000 people in the immediate area
  • Vibrant residential market with the median home value north of $900,000
  • Home to a mix of local and national retailers, local eateries, boutique art galleries, and a multitude of high-end shopping options

 

Unique Market Fundamentals Make This a Rare Opportunity

  • Over 300,000 households and 46,000 businesses within a five-mile radius
  • High daily traffic counts north of 35,000 vehicles per day
  • Walkers paradise with a walk score of 90/11
  • Significant growth projections with an average population age of 39
  • Significant development in the immediate area, including the Culver Public Market at the corner of Washington Boulevard and South Centinela Avenue, the Westside’s answer to Grand Central Market