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$4,995,000
Est. payment /mo
0.51 Acres Lot
UPDATED:
12/19/2024 06:04 AM
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Pending
Purchase Type For Sale
MLS Listing ID SR24102025
HOA Y/N No
Year Built 2010
Lot Size 0.511 Acres
Property Description
Seize a rare and extraordinary opportunity to acquire and redevelop a three-lot assemblage spanning 22,253 square feet in the highly sought-after Greater-Wilshire neighborhood of Los Angeles. This property, available for the first time in over 50 years, includes 4718, 4720, and 4726 Oakwood Ave. The assemblage features two existing single-family residences: one with 2 bedrooms, 1 bathroom, and 1,065 square feet of living space, and the other with 3 bedrooms, 2 bathrooms, with 2,052 square feet of living space. The center lot is currently used as a driveway. Zoned LAR3 and located in TOC Tier 3, this prime location offers developers the potential to build up to 48 units with a TOC density bonus or up to 60 units, including 12 ADUs, with AB-2221(includes 12 ADUs) with a building envelope of 83,359 square feet. This is a once-in-a-generation chance to transform and maximize the value of a prime real estate asset in one of LA's most desirable areas.
Location
State CA
County Los Angeles
Area C18 - Hancock Park-Wilshire
Zoning LAR3
Interior
Fireplace No
Laundry None
Exterior
Utilities Available Electricity Connected, Sewer Connected
Present Use Residential
Building
Lot Description Rectangular Lot
Story 1
Water Public
Others
Tax ID 5522032014
Special Listing Condition Standard
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Listed by Ray Akbari • The Agency • 818-400-4344
1st Class Real Estate Mavericks
Brokerage | License ID: 02245942
+1(760) 203-3373 | 1stclassmavericks@gmail.com