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We are proud to present 11378 Ovada Place, a rare opportunity for developers to acquire a premier site in the heart of Bel-Air, offering multiple development pathways to maximize value. Situated on a tranquil, tree-lined cul-de-sac, this property provides a unique blend of exclusivity and convenience. Development Options: Small Lot Subdivision The proposed plan features an 8-unit small lot subdivision with a mix of five (2-bedroom) and three (3-bedroom) townhomes spanning four levels. Each residence includes:* Private garages with direct unit access* Expansive open-concept living areas with a guest powder room* Well-appointed third-floor sleeping quarters* Private rooftop decks with stunning views. The permit process is in progress, awaiting a housing letter before proceeding to hearings and final approvals, expected in the coming months. ED1 Low-Income Housing Development The site can alternatively support an approximate 90-unit ED1 project with a ministerial, streamlined approval process requiring no parking, offering a fast-track path to development.CHIP OC-3 Density Bonus Project Another option includes a mixed-income development under CHIP OC-3 guidelines, allowing for approximately 70% market-rate units while leveraging density incentives. Existing Income-Generating Property:The site currently features a 4-unit building, consisting of:Three (2-bedroom) units Two leased at $2,343 and $2,731 respectively, with one vacant.One (1-bedroom) unit Currently vacant. Please do not disturb or alert the tenants of the potential sale.This is a rare chance to develop in one of Los Angeles' most sought-after neighborhoods.
Property Type(s):
Lot/Land/Acreage
| Last Updated | 5/2/2025 | Community | Bel Air - Holmby Hills |
|---|---|---|---|
| County | Los Angeles |
Price History
| Prior to May 2, '25 | $6,800,000 |
|---|---|
| May 2, '25 - Today | $5,999,000 |
Additional Details
| AREA | Bel Air - Holmby Hills |
|---|---|
| LOT | 0.3 acre(s) |
| VIEW DESCRIPTION | None |
| ZONING | LARD1.5 |
Location
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Listed with Miller & Desatnik Realty Co.
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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