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5101 W Pico Blvd

Los Angeles, CA 90019
  • $9,200,000
  • STATUS: Active Under Contract
  • ON SITE: 83 days
  • ID#: 21-709470
Under Contract
UPDATED: 133 min ago
$9,200,000
  • 0
    BEDS
  • 0.73
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Vacant Land / Lots
County:

School Ratings & Info

Description

Spanning the entire block between S Redondo Blvd and Meadowbrook Ave, this is a 31,960 square foot development opportunity betweenVenice Blvd and S San Vincente Blvd in a prime Mid-Wilshire location. This development lot is zoned C4-1-O in a Tier2 TOC and presents an investor the opportunity to build up to 136 units utilizing the TOC benefits; there are currently no plans or entitlements in place. 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 majority of tenants are on month-to-month gross leases with a total income of $114,000 gross annually, allowing the developer the ability to collect income while obtaining permits and conducting the entitlement process.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-06-14T23:42:38.517. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.theparsonsrealestateteam.com/homes/115397227
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5101 W Pico Blvd Los Angeles, CA 90019

  • Price: $9,200,000
  • Status: Active Under Contract
  • Updated: 133 min ago
  • ID#: 21-709470
0
Beds
0
Baths
0
½ Baths
0.73
Acres
Neighborhood:
Beverly Center-Miracle Mile
County:
Los Angeles
Area:
Beverly Center-Miracle Mile
Property Description
Spanning the entire block between S Redondo Blvd and Meadowbrook Ave, this is a 31,960 square foot development opportunity betweenVenice Blvd and S San Vincente Blvd in a prime Mid-Wilshire location. This development lot is zoned C4-1-O in a Tier2 TOC and presents an investor the opportunity to build up to 136 units utilizing the TOC benefits; there are currently no plans or entitlements in place. 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 majority of tenants are on month-to-month gross leases with a total income of $114,000 gross annually, allowing the developer the ability to collect income while obtaining permits and conducting the entitlement process.
Exterior Features

Lot Description 2-4 Lots Lot Location City Lot Size Area 31960 View Description None View YN No

Property Features

Cable YN Yes Gas In Street Potential Usage Build Up To 136 Units Sale Type Standard Source Lot Size Area Other Zoning C4-1-O in A Tier 2 Toc

Listing provided courtesy of Neema Ahadian DRE#01346750 of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-06-14T23:42:38.517. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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The Parsons Team | Keller Williams Realty
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