Multi-Family Development Site
0.42 Acres of Commercial Land Offered at $6,399,000 USD in Los Angeles, CA 90006
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $6,399,000
- Property Type
-
Land
Listing Contacts
Anthony Behar
Verified Profile
- Property Info
Property Overview
Prime multi-family or mixed-use development purchase opportunity. Current zoning allows 45 market units by right (verify with City of Los Angeles). Tier 3 TOC encourages the construction of affordable housing near bus and train stations with a 70% increase in density/ 50% increase in FAR. Also ideal for owner/user restaurant/catering business (existing grease trap clarifier). Two existing buildings with abundant parking. Block-to-block parcel between Vermont Avenue and New Hampshire Avenue. Prime location just south of Pico Boulevard and 1-mile west of Downtown Los Angeles. 1.5-miles north of USC and 2.1-miles north of the Memorial Coliseum and the $1-billion George Lucas Museum of Narrative Art (estimated 2023 completion. Southeast gateway to Mid-Wilshire and Koreatown. Also available for lease (call broker for details).
Property Details
- Property Subtype
- Commercial
Highlights
- Multi-Family Development or Owner/User Purchase Opportunity
- Close to DTLA and USC
- Heavy Traffic Frontage
- Rapidly Changing Neighborhood
Nearby Properties
Similar Properties
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