9432 Venice Blvd.
Covered Land Play, Development site with income
Marketing description
Lambert Investments, Inc. Is Pleased to Present 9432 Venice Blvd in Culver City. The Subject Property Sits on a 22,498 Sq. Ft. Lot With 175 Feet of Frontage Along Venice Blvd. Can be developed with retail on ground floor & 70 to 120 residential units depending on unit mix and number of dedicated units. In the Tier 2 TOIA Zone, Transit Oriented Incentive Area (TOIA). Base density is 57 (1 dedicated unit/400sf). 4.5:1 FAR or 5.5:1 with 10% 3 bedrooms. Height limit 80 FT. 20% minimum nonresidential use.
Currently leased to Fresenius Medical Care, 6 months remaining & one 5-year option starting February 1, 2027, at market. Rent is projected to go to $6 a foot a month or $72 per year plus 3% annual bumps. Tenant may be encouraged to move in 3 years or extend for 10. Tenant has no prop 13 protection. Tenant to pay any increase in property taxes over a base year rate of $15,125. Brick building seismically retrofitted. Please see OM & call Carl Lambert 310-663-6030 or [email protected] with any questions.
Investment highlights
- APN: 4206-028-020
- Lot Size 22,498 Sq Ft
- Building Size 10,032 Sq Ft
- Zoning Tier 2 TOIA Zone Base density is 57 (1 dedicated unit/400sf).4.5:1 FAR or 5.5:1 with 10% 3 bedrooms. Height limit 80 FT. 20% minimum nonresidential use
- Year Built 1948
- Parking Spaces 24
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