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500 Midvale Ave, Los Angeles, CA 90024

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For Sale

$23,895,000

44 beds • 24,967 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • Newly Listed
    Time on Century 21

  • $957.06
    Price per square foot

  • Over 50 Years Old
    Age

Explore this Property

We are pleased to present a once-in-a-generation opportunity to acquire three contiguous apartment buildings totaling 23 units, situated on a massive 30,634 square foot corner lot nearly three-quarters of an acre in the heart of Westwood Village. Located at 500, 512, and520 Midvale Avenue, this irreplaceable assemblage is zoned R4(q) and offers one of the most unique and high-impact student housing or multifamily development opportunities in all of West Los Angeles. The property is ideally suited for a transformative new project that leverages both scale and location to deliver high-demand housing in a severely supply-constrained submarket. Just steps from UCLA, the property benefits from proximity to one of the most prestigious and densely populated public universities in the world, with over 46,000 students and limited on-campus housing availability. The area remains chronically undersupplied, and student housing rents in this submarket are among the highest in the city on a price-per-square-foot basis. This asset is already generating nearly $1,000,000 in annual gross rental income, offering a developer meaningful in-place cashflow while working through entitlements or planning a future redevelopment.Multiple development pathways are available, including density-boosting programs under the City of Los Angeles' evolving housing incentive landscape. These may include the Citywide Housing Incentive Program (CHIP), Transit Oriented Communities(TOC) incentives, and other state-aligned density bonus tools designed to encourage the construction of new housing. Whether reimagined as a best-in-class student housing development or a market-rate or mixed-income multifamily asset, this offering represents a rare opportunity to create a legacy project in one of Los Angeles' most stable, desirable, and high-performing rental markets.
MLS# 25571871

Courtesy Of RE/MAX Commercial & Investment

(213) 817-1000

Property Features

  • Age
    Over 50 Years Old
  • Architecture Style
    Other
  • Lot Size
    0.19 Acres

Map and Directions

Directions to 500 Midvale Ave, Los Angeles, CA 90024

Home seller CENTURY 21 Union Realty Co.

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 Union Realty Co.

(310) 371-6330
Learn More About Us

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Monthly Payment Breakdown

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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