14
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$5,999,000
Est. payment /mo
0.3 Acres Lot
Price Dropped by $801K
11378 Ovada Pl Los Angeles, CA 90049
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Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 25519291
Lot Size 0.300 Acres
Acres 0.3
Property Description
We are proud to present 11378 Ovada Place, a rare opportunity for developers to acquire a premier site in the heart of Bel-Air, offering multiple development pathways to maximize value. Situated on a tranquil, tree-lined cul-de-sac, this property provides a unique blend of exclusivity and convenience. Development Options: Small Lot Subdivision The proposed plan features an 8-unit small lot subdivision with a mix of five (2-bedroom) and three (3-bedroom) townhomes spanning four levels. Each residence includes:* Private garages with direct unit access* Expansive open-concept living areas with a guest powder room* Well-appointed third-floor sleeping quarters* Private rooftop decks with stunning views. The permit process is in progress, awaiting a housing letter before proceeding to hearings and final approvals, expected in the coming months. ED1 Low-Income Housing Development The site can alternatively support an approximate 90-unit ED1 project with a ministerial, streamlined approval process requiring no parking, offering a fast-track path to development.CHIP OC-3 Density Bonus Project Another option includes a mixed-income development under CHIP OC-3 guidelines, allowing for approximately 70% market-rate units while leveraging density incentives. Existing Income-Generating Property:The site currently features a 4-unit building, consisting of:Three (2-bedroom) units Two leased at $2,343 and $2,731 respectively, with one vacant.One (1-bedroom) unit Currently vacant. Please do not disturb or alert the tenants of the potential sale.This is a rare chance to develop in one of Los Angeles' most sought-after neighborhoods.
Location
State CA
County Los Angeles
Area Bel Air - Holmby Hills
Zoning LARD1.5
Exterior
View Y/N No
View None
Building
Lot Description 5 + Lots
Others
Special Listing Condition Standard
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Listed by Miller & Desatnik Realty Co.