1723 Corinth AveLos Angeles, CA 90025

This exceptional value-add investment opportunity presents a 10-unit apartment building situated in a prime West Los Angeles location, just moments from Sawtelle Boulevard's vibrant restaurants and shops, and conveniently close to Westwood, Santa Monica, and Century City. The existing two-story, 5,433 square foot building, constructed in 1957, comprises eight one-bedroom, one-bathroom units and two studio units. Currently, two one-bedroom units are vacant. The property requires a seismic retrofit for the existing tuck-under parking structure. However, the significant upside lies in the fully entitled plans for a new nine-unit development project. This new four-story building, with subterranean parking, will encompass approximately 10,251 square feet and feature five two-bedroom, two-bathroom units and four three-bedroom, two-bathroom units. Importantly, this new development is exempt from SB8 requirements and does not necessitate any low-income units. All tenants have received Ellis Act notices, with complete vacancy anticipated by March 2025. This presents a unique opportunity for developers or investors seeking a prime West LA location and a substantial value-add or new construction project. Detailed development plans are available upon request. The property sits on a 7,359 square foot lot, has a current NOI of $90,500, and is offered at $2,295,000 ($229,500 per unit and $422.42 per square foot). The property's zoning is LAR3. The APN is 4261-017-008.