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$5,995,000
Est. payment /mo
0.39 Acres Lot
UPDATED:
12/05/2024 02:36 AM
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 24413759
HOA Y/N No
Lot Size 0.392 Acres
Property Description
Developers Dream - opportunity to acquire five contiguous lots located at 5613 - 5627 W Pico Blvd in the prime Mid-City submarket of Los Angeles. The 17,097 SF development site is zoned C4-1-O TOC Tier 2 allowing a developer to build +/- 45 units by-right or up to +/- 74 units utilizing the TOC density bonus. The site currently comprises a 4,077 square foot office building. The property offers a rare development opportunity as no previous rental units are on Lot and the new development will not be subject to the Rent Stabilization Ordinance. The property, situated in the Mid City neighborhood has a remarkable walk score of 91 (a walker's paradise), and offers residents a vibrant urban lifestyle. The property is just steps from renowned dining venues, bars,. Nearby attractions include LACMA, Little Ethiopia, The Peterson Automotive Museum, The Grove, Third Street Restaurants, Melrose Trading Post, and El Rey Theater, just to name a few. Future residents will enjoy convenient access to major transportation hubs and freeways, including the 10 freeway, and 101, facilitating easy commuting to employment hubs such as Downtown Los Angeles, San Fernando Valley, and Silicon Beach. For those looking for public transportation, there are several subway stops in proximity of the property including La Cienega/Jefferson and Expo/La Brea Stations. Additionally, Los Angeles International Airport is less than 30 minutes away. Please contact John Swartz or Jackie Carroll for more information.
Location
State CA
County Los Angeles
Area C19 - Beverly Center-Miracle Mile
Zoning LAC4
Interior
Fireplace No
Exterior
View Y/N Yes
View City Lights
Building
New Construction No
Others
Senior Community No
Tax ID 5085027005
Special Listing Condition Standard
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Listed by John Swartz • Compass
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