Los Angeles, CA 90008
LISTING CRE
Westchester Portfolio
9 ENTITLED INFILL PROJECTS
Property
The Asset
Number of Properties
Combined Lot SF
Existing Units
Existing Combined SF
Potential Development
Summary
9 Property Assemblage
131,449
61 Units
53,413 SF
288 Units
OVERVIEW
Realty Investment Advisors presents an unparalleled opportunity for a developer to acquire an entitled property assemblage in the highly sought-after Westchester neighborhood. This development comprises of nine entitled infill projects entitled for a combined 288 buildable apartment units within a quarter-mile radius, providing a significant potential to capitalize on the area's rapid growth and revitalization. The 5-mile population for 2022 is nearly 645,000, making this location a prime destination for development.
This assemblage is strategically located just minutes from the world-renowned LAX airport, surrounded by major employers, including Google, Northrop Grumman, and Boeing, making it an ideal location for those seeking employment opportunities. The area also offers easy access to SoFi Stadium, home to the Los Angeles Rams and Chargers, which has become a major entertainment destination that hosts a variety of events throughout the year.
A few miles west is Playa Del Rey, a vibrant beach town offering a relaxed atmosphere, access to the beach, and a variety of local shops and restaurants. Loyola Marymount University, one of the top private universities in the region, is also less than three miles away, adding a strong educational element to the area. Additionally, located just southwest of Westchester, El Segundo is a booming city home to the headquarters of several major corporations, including Mattel, Raytheon, and SpaceX.
The average household income within two miles of this property assemblage exceeds $100,000, reflecting the tremendous economic strength of the area. In 2022, Google leased nearly 53,000 square feet of space in Playa Vista, indicating the strong potential for growth and development in the area.
This unique investment opportunity is not to be missed by developers and institutions looking to quickly expand their ground up portfolio and capitalize on the unlimited potential of this central area. With the acute housing shortage in Los Angeles, this opportunity also presents a chance to create high-quality housing options for one of the highest rental demand markets in California.
