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$10,000,000
Est. payment /mo
0.73 Acres Lot
UPDATED:
12/05/2024 07:10 PM
Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID CL24469393
HOA Y/N No
Lot Size 0.734 Acres
Acres 0.73
Property Sub-Type Unimproved Land
Property Description
We are pleased to present 5101-5125 W Pico Blvd. Spanning the entire block between S Redondo Blvd and Meadowbrook Ave, this is a 31,960 square foot development opportunity between Venice Blvd and S San Vincente Blvd in a prime Mid-Wilshire location. This development lot is zoned C4-1-O in a Tier 2 TOC. There are approved plans to build a 7-story, 107,754 SF building made up of 136 units and 12 ADU's. A Buyer can move forward with the plans, re-entitled for another project including affordable housing via ED-1, or reposition the existing retail and collect income with long-term development potential. obtaining permits and conducting the entitlement process. The site has alley access from S Redondo Blvd and Meadowbrook Ave, providing extra buildable square footage and options for parking ingress and egress. The current building consists of 10 retail units on month-to-month gross leases with a total income of $381,753 annually. Mid-Wilshire is a neighborhood in the central region of Los Angeles, California known for the Los Angeles County Museum of Art, the Petersen Automotive Museum, and the Miracle Mile shopping district. The subject property boasts a high walk score of 92, a "walker's paradise" in a central LA location with convenient access to local restaurants, shopping, employ
Location
State CA
County Los Angeles
Area Listing
Zoning C4-1
Interior
Fireplace No
Exterior
View Y/N false
View None
Building
New Construction No
Others
Tax ID 5070007012
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Listed by Neema Ahadian • Marcus & Millichap
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