The development site at 11970 Santa Monica Blvd, 90025 sits in the West LA Sawtelle market. The asset comprises a 73,900-square-foot building with a 17,207-square-foot commercial assemblage and is slated for a 162-unit project under the ED1 program with an estimated budget of about $50 million. The sale price was $7,150,000.

Summary of transation details:

• Property Type: Development Site
• Transaction Amount: $7,150,000
• Address: 11970 Santa Monica Blvd, Los Angeles, CA 90025
• Market: West LA Sawtelle
• BSF: 73,900 SF
• Commercial Assemblage: 17,207 SF
• Units Proposed: 162
• Cost Per Unit: $44,000
• PPBSF: $96
• Buyer: Sabin Burrell, Simon Aftalion & Daniel Glimcher – Passo
• Seller: Mike Wertz – Wertz Realty Investments
• Buyer's Representative: Errol Spiro & Dave Miller – Miller & Desatnik Realty
• Note from Broker: The proposed project includes 162 units within an approximately 73,900 square foot building, with an estimated budget of approximately $50 million.
• Note from Buyer: Passo is a Los Angeles-based real estate firm focused on delivering high-quality affordable housing to meet the city’s urgent and growing needs. We’re actively pursuing new ground-up projects in prime LA neighborhoods and welcome inquiries from property owners interested in joint venture opportunities. Please reach out to [email protected] with potential sites.

Representing the purchasing group Passo, Miller & Desatnik Realty successfully secured acceptance of the off-market offer. This closing marks Passo’s tenth since its 2024 launch, bringing total development costs across the portfolio to more than $200 million.