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5101 W Pico Boulevard

Los Angeles (City), CA 90019
  • $8,750,000
  • STATUS: Closed
  • ON SITE: 307 Days
  • ID#: 21709470
Sold - 01/03/2022
$8,750,000
SOLD - 01/03/2022
  • 0
    BEDS
  • 0.73
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Vacant Land / Lots
County:

School Ratings & Info

Listing Agent(s): Neema Ahadian of Marcus & Millichap (310-909-5500)


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.

Sold by Neema Ahadian of Marcus & Millichap.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-01-25T00:26:15.403. 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 Remax of Chico - The Laffins Real Estate Team. Licensed in the State of California, USA.
www.laffinsrealestate.com/homes/115399280
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5101 W Pico Boulevard Los Angeles (City), CA 90019

  • Price: $9,200,000
  • Status: Closed
  • On Site: 307 Days
  • Updated: 127 min ago
  • ID#: 21709470
0
Beds
0
Baths
0
½ Baths
0.73
Acres
Neighborhood:
C19 - Beverly Center-Miracle Mile
County:
Los Angeles
Area:
C19 - 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

Parking Total 0 View None View YN No

Property Features

Additional Parcels YN Yes Association Fee 0 Listing Agreement Exclusive Right To Sell Listing Service Full Service Senior Community YN No Special Listing Conditions Standard Zoning C4-1-O in A Tier 2 Toc



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-01-25T00:26:15.403. 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 Remax of Chico - The Laffins Real Estate Team. Licensed in the State of California, USA.
 
https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_365305364-1.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_365305364-1.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_365305364-1.jpg
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Remax of Chico - The Laffins Real Estate Team
1834 Mangrove Ave
Chico CA, 95926
Listing Agent(s): Neema Ahadian of Marcus & Millichap (310-909-5500)