1228-1238 Normandie Ave, Los Angeles, CA 90006
75 Unit Apartment Building | For Sale | Los Angeles, CA 90006
For Sale
Active
- Property Type
-
Multifamily
- Square Feet
- 38,895 SF
Listing Contacts
Jonathan Cuticelli
- Property Info
Property Overview
Investors and developers have an incredible opportunity to acquire nearly a half-acre in a Downtown Los Angeles neighborhood poised for growth, as the area is currently undergoing rapid development. Located within an Opportunity Zone, this offering presents an assemblage of three contiguous parcels totaling over ±0.41 acres.
Previous ownership proposed a 100% affordable housing development consisting of a five-story, elevator-served building with 75 residential units and 12 parking spaces. Future owners can complete the project under the prior development plans or utilize the site to turn their own vision into a reality.
1228-1238 S. Normandie Avenue sits right off W. Pico Boulevard on the edge of Koreatown and Harvard Heights. Comprising approximately 3 square miles just west of Downtown Los Angeles, Koreatown is a vibrant neighborhood renowned for its cultural institutions, diverse food scene, and historic landmarks. As a cultural hub, it offers a blend of traditional Korean heritage and contemporary influences, hosting numerous events and festivals. The neighborhood boasts a dynamic culinary landscape featuring authentic Korean BBQ, trendy cafes, and a variety of international cuisines. Iconic landmarks like the Wiltern Theatre and the Chapman Market add to its charm, making Koreatown a lively and culturally enriching area to explore and enjoy. Just to the south, the Harvard Heights neighborhood complements the area with its historic architecture and tight-knit community feel, further enhancing the appeal of this dynamic part of Los Angeles.
The bid deadline is September 17. All bids should be made on the approved Purchase and Sale Agreement available on the HRE website. Bids must be submitted to Jonathan Cuticelli at [email protected].
View information and the data room on the Hilco website: https://hilcorealestatesales.com/listings/?propertyId=land-redevelopment-losangeles-ca
Previous ownership proposed a 100% affordable housing development consisting of a five-story, elevator-served building with 75 residential units and 12 parking spaces. Future owners can complete the project under the prior development plans or utilize the site to turn their own vision into a reality.
1228-1238 S. Normandie Avenue sits right off W. Pico Boulevard on the edge of Koreatown and Harvard Heights. Comprising approximately 3 square miles just west of Downtown Los Angeles, Koreatown is a vibrant neighborhood renowned for its cultural institutions, diverse food scene, and historic landmarks. As a cultural hub, it offers a blend of traditional Korean heritage and contemporary influences, hosting numerous events and festivals. The neighborhood boasts a dynamic culinary landscape featuring authentic Korean BBQ, trendy cafes, and a variety of international cuisines. Iconic landmarks like the Wiltern Theatre and the Chapman Market add to its charm, making Koreatown a lively and culturally enriching area to explore and enjoy. Just to the south, the Harvard Heights neighborhood complements the area with its historic architecture and tight-knit community feel, further enhancing the appeal of this dynamic part of Los Angeles.
The bid deadline is September 17. All bids should be made on the approved Purchase and Sale Agreement available on the HRE website. Bids must be submitted to Jonathan Cuticelli at [email protected].
View information and the data room on the Hilco website: https://hilcorealestatesales.com/listings/?propertyId=land-redevelopment-losangeles-ca
Property Details
- Class
- B
- Stories
- 5
- Lot Size (sq. ft)
- 17,860 SF
- Units
- 75
Highlights
- Downtown Los Angeles development opportunity on 0.41± acres in between the Koreatown/Harvard Heights neighborhoods
- Situated on a heavily traveled area of W. Pico Boulevard & S. Normandie Avenue with many local shopping & dining conveniences
- Previously slated for a five-story, 75-unit multifamily development, the new owner can continue with existing plans or draft a new vision
- 1228-1238 S. Normandie Avenue has easy access to the area's major transportation arteries, including Interstate 10 & 110
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