8521 Pershing Drive, Playa Del Rey, CA 90293

$2,310,000
Sold Price
$2,310,000
List Price
$2,300,000
Closing Date
Feb 18, 2022
Status
CLOSED
MLS#
21756650
Year Built
1953
Lot Size
5,000
Acres
0.1148
Days on Market
168
Property Type
Multifamily

Property Description

HUGE PRICE REDUCTION ON THIS 3 BUILDING, 16-UNIT ASSEMBLAGE. This is not a stand alone sale, but a part of the three buildings at 8517, 8521, and 8527 Pershing Drive. All three building are being sold at the packaged price of $6.995,000. The assemblage consists of 13,600 sf of living space on a 15,001 sf lot. The lots are zoned LAC-2 with an M-1 overlay, allowing for a retail build to sidewalk and residential apts./condos to be built above as a mixed use. Currently 34 units are allowed per LA City Planning Dept. Height limit is 44 ft. Subterranean parking can be built off commercial alley in the rear of the building. 100 x 150 lot. 7 units delivered vacant at COE. Huge upside in this Silicon Beach opportunity zone. Prime Beach location with easy access to LAX, Playa Vista, Manhattan Beach, El Segundo and The Marina. Gentrifying area along Westchester Parkway to the East and South along World Way West. 59% upside for a buy and hold while obtaining permits and plans for a development project.

Additional Information

Other Buildings
Shed(s)
Appliances
Disposal, Refrigerator
Cooling Description
None
Attached Structure
Detached
Total Number of Units
6

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
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Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Thomas Corte from ERA Matilla Realty

Listing sold by Rose Vasilj from Compass

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.