3049-3051 S La Cienega Blvd
Land | 1 acres
Marketing description
Polk Properties is pleased to present an exclusive acquisition opportunity for a ±1-acre fee-simple development site strategically positioned within one-third of a mile of the La Cienega/Jefferson Metro E Line Station — placing it firmly within Culver City's highest-tier Transit Priority Area. Under the Culver City Density Bonus Ordinance (§17.580), this site qualifies for a totalized by-right entitlement pathway yielding 147 residential units through maximum layering of Tier 4 and Community Benefit density bonuses.
Culver City — the "Heart of Screenland" — has transformed into one of Los Angeles County's most sought-after innovation and residential corridors. Anchored by Apple, Amazon, and Sony studios, the city's tech and creative economy fuels sustained demand for high-quality multifamily housing. The Metro E Line provides direct light rail from Downtown Los Angeles through Culver City to Santa Monica, establishing a critical transit spine for density-eligible development.
The subject property comprises two adjoining parcels totaling approximately one acre of fee-simple interest on South La Cienega Boulevard in Culver City. Currently improved with two single-story industrial/commercial buildings, the site presents a clean redevelopment opportunity. The existing corner restaurant (BBQ) parcel is not part of this offering — the proposed development massing is designed to wrap around this excluded boundary.
Investment highlights
- Transit Priority Location — 1/3 mile from La Cienega/Jefferson Metro E Line Station. Direct rail to Downtown LA and Santa Monica.
- Zero Parking Mandate — Transit Priority Area designation eliminates all residential parking requirements, removing an estimated $35M–$45M in subterranean hard costs.
- Pre-Massed Development Pathway — L-shaped, 7-story massing concept pre-vetted for density, height, and context compliance.
- ~150,000 GSF — Gross development area utilizing high-efficiency Type III over Type I podium construction.
- Tier 4 Height Bonus — By-right entitlement for two additional stories (~22 ft) of height beyond base allowance.
- Retail/Residential Flexibility — Retail waiver available after five years of good-faith marketing, preserving 100% of residential units for the owner.
- Metro E Line — La Cienega/Jefferson Station (1/3 mile). Service every 8 min at peak.
- Freeway Access — Immediate access to I-10 and I-405 via La Cienega and Jefferson corridors.
- Silicon Beach Corridor — Tech migration driving values up 9.2% within one mile over 18 months.
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