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    4201 W Pico Boulevard

    Los Angeles (City), CA 90019
    • $11,500,000
    • STATUS: Active
    • ON SITE: 188 days
    • ID#: 21709344
    Price Reduced
    UPDATED: 45 min ago
    $11,500,000
    • 0
      BEDS
    • 1.21
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Type:
    Vacant Land / Lots
    County:

    School Ratings & Info

    Description

    This 52,738 square foot development opportunity consists of the entire block between Crenshaw Blvd and Victoria Ave in Mid-City. This development lot is zoned C4-1-O; R1-1-O-HPOZ in a Tier 3 TOC and presents an investor the opportunity to build 189 units utilizing the TOC benefits; there are currently no plans or entitlements in place.The subject property is being offered at a low price per square foot of $239. The current site consists of 7 retail units on month-to-month gross leases with a total income of $425,400 gross annually which includes $600 annual billboard income, plus two single-family residences, allowing the developer the ability to collect income while conducting the entitlement process.Mid-city is a densely populated neighborhood with historical and architectural significance. The demand for apartment units continues to increase year-over-year in this submarket with such close proximity to job and educational opportunities in Downtown Los Angeles, as well as the numerous transportation options available for an easy commute throughout the city.The subject property is surrounded by retail shops and restaurants on W Pico Blvd, north on W Olympic Blvd, south on Washington & Venice Blvd, and east on Western Ave.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-28T09:24:08.077. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Swack Real Estate Group | Keller Williams Realty Central Coast. Licensed in the State of California, USA.
    www.swackrealestategroup.com/homes/115393739
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    4201 W Pico Boulevard Los Angeles (City), CA 90019

    • Price: $11,500,000
    • Status: Active
    • Updated: 45 min ago
    • ID#: 21709344
    0
    Beds
    0
    Baths
    0
    ½ Baths
    1.21
    Acres
    Neighborhood:
    C18 - Hancock Park-Wilshire
    County:
    Los Angeles
    Area:
    C18 - Hancock Park-Wilshire
    Property Description
    This 52,738 square foot development opportunity consists of the entire block between Crenshaw Blvd and Victoria Ave in Mid-City. This development lot is zoned C4-1-O; R1-1-O-HPOZ in a Tier 3 TOC and presents an investor the opportunity to build 189 units utilizing the TOC benefits; there are currently no plans or entitlements in place.The subject property is being offered at a low price per square foot of $239. The current site consists of 7 retail units on month-to-month gross leases with a total income of $425,400 gross annually which includes $600 annual billboard income, plus two single-family residences, allowing the developer the ability to collect income while conducting the entitlement process.Mid-city is a densely populated neighborhood with historical and architectural significance. The demand for apartment units continues to increase year-over-year in this submarket with such close proximity to job and educational opportunities in Downtown Los Angeles, as well as the numerous transportation options available for an easy commute throughout the city.The subject property is surrounded by retail shops and restaurants on W Pico Blvd, north on W Olympic Blvd, south on Washington & Venice Blvd, and east on Western Ave.
    Exterior Features

    View None View YN No

    Property Features

    Additional Parcels YN Yes Listing Agreement Exclusive Right To Sell Listing Service Full Service Senior Community YN No Special Listing Conditions Standard Zoning C4-1-O; R1-1-O-Hpoz

    Listing provided courtesy of Neema Ahadian of Marcus & Millichap


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-28T09:24:08.077. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Swack Real Estate Group | Keller Williams Realty Central Coast. Licensed in the State of California, USA.
     
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    Swack Real Estate Group | Keller Williams Realty Central Coast
    1851 Shell Beach Road Ste B
    Shell Beach CA, 93449