11378 Ovada Place, Los Angeles, CA 90049 (MLS # 25519291)
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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.
| DAYS ON MARKET | 91 | LAST UPDATED | 6/16/2025 |
|---|---|---|---|
| YEAR BUILT | 0 | COMMUNITY | C04 - Bel Air - Holmby Hills |
| COUNTY | Los Angeles | STATUS | Active |
| PROPERTY TYPE(S) | Lot/Land/Acreage |
| PRICE HISTORY | |
| Prior to May 2, '25 | $6,800,000 |
|---|---|
| May 2, '25 - Jun 16, '25 | $5,999,000 |
| Jun 16, '25 - Today | $5,500,000 |
| ADDITIONAL DETAILS | |
| AREA | C04 - Bel Air - Holmby Hills |
|---|---|
| LOT | 0.3003 acre(s) |
| VIEW DESCRIPTION | None |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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