249 S Avenue 54
Los Angeles, CA 90042
0.40 acres | #PW25174973
Description
12 Unit RTI project with alley access. Located in the vibrant Highland Park community of Los Angeles, 249 S Avenue 54. This offers a rare development opportunity with RTI (Ready-To-Issue) permits in place. The existing property features three separate bungalow homes with alley access. NO RELOCATION, THE PROPERTY IS DELIVERED FULLY VACANT. The approved plans allow for four new construction duplex structures and two detached ADUs. Upon CofO, the new owner will be able to capture six (6) additional ADUs by right. Recent code updates allow for 8 ADUs bringing the unit count to 16 total. The new project will feature (8) 5B/5B units and (8) 2B/2B ADUS, each thoughtfully designed to meet the needs of modern urban living. The building will encompass approximately 24,210 square feet on a 17,882 square foot lot, designed with contemporary finishes, energy-efficient features, a full sprinkler system, and full compliance with the latest seismic and building codes. Situated just minutes from Downtown Los Angeles, tucked in between Griffith Obervatory and the 110 Parkway, the property benefits from a strong demand for rental housing, making it ideal for families or co-living operations. The estimated annual NOI is approximately $768,903. Avenue 54 offers an outstanding opportunity to invest in a high-demand, centrally located project ready for immediate development and long-term success.
Property Details
- Lot DescriptionZeroToOneUnitAcre, ElevenToFifteenUnitsAcre, SixToTenUnitsAcre, BackYard, FrontYard, Lawn, ValueInLand
- Utility FeaturesElectricityAvailable, NaturalGasAvailable, SewerAvailable, WaterAvailable
- ViewCityLights, Canyon, Hills, Neighborhood, TreesWoods
- Sewer InformationPublicSewer
- CountyLos Angeles
- Original List Price$2,995,000
- MLS #PW25174973
- MLS #PW25174973
- Property TypePurchase
- Cost2995000
- Acres0.3992
- Utility SourcePublic
- Property SubtypeLand
Location
Legal
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. 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
Last Updated:Â . Source: CRMLS
Provided By
Listing Agent: Martin Fish (#PWFISHMAR)
Listing Office: Citivest Realty Services, Inc (#PB16907)
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