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    933 S Westmoreland Ave

    Los Angeles, CA 90006
    • $1,950,000
    • STATUS: Active
    • ON SITE: 73 days
    • ID#: 20-570558
    $1,950,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Vacant Land / Lots
    County:
    Area:

    School Ratings & Info

    Description

    This investment offers an opportunity to purchase a land on R4 zoning and build a maximum up to 41 units. Excellent location surrounded by developments is in the prime Koreatown submarket, adjacent to Downtown LA. This area has seen a dramatic change in the last few years, with the addition of many new coffee shops, restaurants, retails, and new construction housing. Very low price per potential unit. TOC Tier 3 incentives allow a developer potentially to build up to 41 units. Property located at the signalized intersection of major Olympic Blvd and San Marino Street, approximately one mile from I-10 FWY. Property suits to the surrounding area demographics and drives significant traffic to this location. The density and infill characteristics of this location create high barriers to entry for competition and new development in a mature retail market. The property is surrounded by retailers, businesses, minutes away from Staples Center, USC, LA Live, Convention Center, DTLA.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-07-03T23:42:23. 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/105199619
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    933 S Westmoreland Ave Los Angeles, CA 90006

    • Price: $1,950,000
    • Status: Active
    • ID#: 20-570558
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    Neighborhood:
    Mid-Wilshire
    County:
    Los Angeles
    Area:
    Mid-Wilshire
    Property Description
    This investment offers an opportunity to purchase a land on R4 zoning and build a maximum up to 41 units. Excellent location surrounded by developments is in the prime Koreatown submarket, adjacent to Downtown LA. This area has seen a dramatic change in the last few years, with the addition of many new coffee shops, restaurants, retails, and new construction housing. Very low price per potential unit. TOC Tier 3 incentives allow a developer potentially to build up to 41 units. Property located at the signalized intersection of major Olympic Blvd and San Marino Street, approximately one mile from I-10 FWY. Property suits to the surrounding area demographics and drives significant traffic to this location. The density and infill characteristics of this location create high barriers to entry for competition and new development in a mature retail market. The property is surrounded by retailers, businesses, minutes away from Staples Center, USC, LA Live, Convention Center, DTLA.
    Exterior Features

    Lot Description Fenced YardLot Shape-FlagRedevelopment AreaSidewalksSingle LotWalk Street Lot Size Area 9547 View Description CityCity LightsWalk Street View YN Yes

    Property Features

    Assessments Buyer To Verify Cable YN No Hoa Fee1 0.00 Sale Type Standard Source Lot Size Area Vendor Enhanced Zoning Lar4

    Listing provided courtesy of Elizabeth Clark DRE#01811246 of Compass.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-07-03T23:42:23. 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