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October 16, 2021
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LOS ANGELES COUNTY NEWS
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L.A. Site Entitled for 65-Unit Res Development Trades for $6 Mil

9/17/21

A 16k sf parcel in Los Angeles currently entitled for development of up to 65 residential units was purchased by a private investor/developer for $6 mil. The land, located at 606 N. Western Ave, just south of Melrose Ave, was sold by Bolour Associates Inc (BOLOUR).

The site is situated along the highly active development submarkets spanning Hollywood and Paramount Studios to the east, Koreatown to the south, and North Vermont to the northeast, across the adjacent 101 Fwy.

The sale allows BOLOUR to exit the property significantly above its original basis and exchange into a new value-add asset. The company, who gained the entitlements on this property during its ownership, also owns an additional nearby site and sold another site within the corridor approximately one year ago.




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