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    1116 S Westmoreland Ave

    Los Angeles, CA 90006
    • $5,250,000
    • STATUS: Active
    • ON SITE: 66 days
    • ID#: 20-573100
    UPDATED: 23 min ago
    $5,250,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Vacant Land / Lots
    County:
    Area:

    School Ratings & Info

    Description

    1116-1122 S. Westmoreland Double Lot with Alley access. The project is located in a Qualified Opportunity Zone with outstanding potential Tax Benefits (consult with accountant). The plan consists of 87 residential units located on the very attractive street of S. Westmoreland Avenue. The beneficial unit mix consists of 9: 2 Bed + 2 Bath, 70: 1 Bed + 1 Bath and 8 Studios + 1 Bath units. The property has the advantages of an alley along with 100 feet of frontage on Westmoreland and located one block south of Olympic Blvd. right in the heart of Koreatown. The project includes Rooftop Open Space and only 1 level of Basement parking. The property has a great walk score of 90 and is in close proximity to Downtown Los Angeles, Southwestern Law school and many places of employment and entertainment. The owner is currently going thorough entitlements and can possibly deliver the with Ready to Issue Permits (RTI). The property can also be delivered vacant.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-07-07T14:42:46.847. 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.randyplaice.com/homes/105454889
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    1116 S Westmoreland Ave Los Angeles, CA 90006

    • Price: $5,250,000
    • Status: Active
    • Updated: 23 min ago
    • ID#: 20-573100
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    Neighborhood:
    Mid-Wilshire
    County:
    Los Angeles
    Area:
    Mid-Wilshire
    Property Description
    1116-1122 S. Westmoreland Double Lot with Alley access. The project is located in a Qualified Opportunity Zone with outstanding potential Tax Benefits (consult with accountant). The plan consists of 87 residential units located on the very attractive street of S. Westmoreland Avenue. The beneficial unit mix consists of 9: 2 Bed + 2 Bath, 70: 1 Bed + 1 Bath and 8 Studios + 1 Bath units. The property has the advantages of an alley along with 100 feet of frontage on Westmoreland and located one block south of Olympic Blvd. right in the heart of Koreatown. The project includes Rooftop Open Space and only 1 level of Basement parking. The property has a great walk score of 90 and is in close proximity to Downtown Los Angeles, Southwestern Law school and many places of employment and entertainment. The owner is currently going thorough entitlements and can possibly deliver the with Ready to Issue Permits (RTI). The property can also be delivered vacant.
    Exterior Features

    Lot Size Area 19602 View Description Other View YN Yes

    Property Features

    Cable YN Yes Hoa Fee1 0.00 Sale Type Standard Source Lot Size Area Assessor Source Lot Size Dimensions Other Zoning Lar4

    Listing provided courtesy of Jon Emrani DRE#01427038 of Marcus & Millichap.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-07-07T14:42:46.847. 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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    Randy Plaice and Associates | RE/MAX
    27720 Dickason Drive
    Valencia CA, 91355