REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 5,000,000
Est. payment /mo
New
3550 S Western AVE Los Angeles, CA 90018
0.94 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 26985049
HOA Y/N No
Year Built 1994
Lot Size 0.936 Acres
Property Description
Unentitled commercial or mid-rise housing development opportunity near USC. Covered land play - all seven (7) tenants are month-to-month and are currently generating approximately $19,000 per month gross rental income. Redevelopment possibilities for a gym, school, senior/assisted living, housing, etc. Architect analysis showed a potential 169+ unit count (115 market rate, and 54 affordable) with the CPIO density bonus, for a 5-story mid-rise build with type IIIB construction.The primary site for sale includes three (3) contiguous parcels totaling 40,769 SF of land zoned C2-2D-O-CPIO. The corner lot (contiguous with the primary site) is owned by a separate seller and can also be delivered separately to complete the block. The corner lot would add an additional 5,857 SF of land, bringing the total size of the assemblage to over one (1) acre.This site presents an increasingly rare opportunity to secure an entire block ripe for development within the inevitable path of USC's continual westward expansion.
Location
State CA
County Los Angeles
Area C34 - Los Angeles Southwest
Zoning LAC2
Interior
Fireplace No
Exterior
Total Parking Spaces 21
Building
Story 1
Others
Tax ID 5041012049
Special Listing Condition Standard
Listed by Joseph Bolognese Saxum West #01966025
NEARBY SCHOOLS & PROPERTIES
Lisa Bethel
Advisor | Accredited Buyer's Representative | Seniors Real Estate Specialist® License ID: 02046953