249 S Avenue 54, Los Angeles, CA 90042
249 S Avenue 54, Los Angeles, CA 90042
249 S Avenue 54, Los Angeles, CA 90042
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Listed by Martin Fish, DRE #01988997 • Citivest Realty Services, Inc
$2,425,000
Est. payment /mo
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0.4 Acres Lot
Price Dropped by $25K

249 S Avenue 54 Los Angeles, CA 90042

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Adrian Chu

Adrian Chu

+1(206) 407-5452

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Key Details

Property Type Vacant Land

Sub Type Other Residential Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID CRPW25174973

Lot Size 0.399 Acres

Property Sub-Type Other Residential Land

Source California Regional MLS

Property 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 i

Location

State CA

County Los Angeles

Area 632 - Highland Park

Zoning D3,D0,FY,BY,D2,LN,LV

Exterior

Fence Other

Utilities Available Electricity - On Site

View Hills, Local/Neighborhood, Canyon, Forest / Woods, City Lights

Building

Water District - Public

Others

Tax ID 5468013025

Special Listing Condition Not Applicable

MLS Listing IDX PLUS
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Adrian Chu

Adrian Chu

Founder & CEO

+1(206) 407-5452

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249 S Avenue 54