CA > Los Angeles
Los Angeles, CA 90024,500 Midvale Ave
Los Angeles, CA 90024,500 Midvale Ave
Los Angeles, CA 90024,500 Midvale Ave
11
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$23,895,000
Est. payment /mo
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44 Beds
37 Baths
24,967 SqFt
New

500 Midvale Ave Los Angeles, CA 90024

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Gwendolyn Thomas

Gwendolyn Thomas

+1(702) 265-5005

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 24,967 sqft

Price per Sqft $957

MLS Listing ID 25571871

Bedrooms 44

Year Built 1936

Lot Size 0.703 Acres

Acres 0.189

Property Sub-Type Multi-Family

Property Description

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.

Location

State CA

County Los Angeles

Area Westwood - Century City

Zoning LAR4

Rooms

Other Rooms None

Interior

Heating Wall

Cooling Wall/Window

Equipment None

Exterior

Parking Features Assigned

Garage Spaces 50.0

Building

Story 2

Level or Stories One

Others

Special Listing Condition Standard

TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2025 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Remax Commercial and Investment Realty

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agent

Gwendolyn Thomas

Agent | RE.S.0186243

+1(702) 265-5005

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500 Midvale Ave