$ 2,800,000
1223 W Court Street Los Angeles, CA 90026
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REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 2,800,000
Est. payment /mo
Active
1223 W Court Street Los Angeles, CA 90026
5,364 SqFt
UPDATED:
08/09/2024 05:58 AM
Key Details
Property Type Commercial
Sub Type Comm Ind For Sale
Listing Status Active
Purchase Type For Sale
Square Footage 5,364 sqft
Price per Sqft $521
MLS Listing ID CRP1-18664
HOA Y/N No
Year Built 1962
Property Description
Emerging Area - Multi-family Property For Sale - 21,750 Sq. Ft. Contiguous Land!This incredible assemblage of three parcels (APN 5160-022-034, 035, 036) total approximately 21,750 SF (0.5 Acres) of land and also includes an existing 8-unit apartment building. All units are 2bd/1ba. Two units are currently vacant and in need of renovation. Those two units will be delivered as-is. This year the roof was replaced and the building exterior was painted. The site is located in the Westlake neighborhood in Los Angeles just West of Downtown Los Angeles. Over the last five years the area has seen a great renewal with hundreds of new units built within a few blocks of the subject site. Residentially dense zoning, described below, allows for many development strategies for the three parcels all while generating cashflow from the existing rental units. Possible development examples: Add units to the existing apartment site under current zoning or ADU legislation. Build new units on vacant parcels. Demolish existing building and develop entire acreage Land bank vacant lots for future developmentZoning: R4(CW)-75/3-0 (Density 400 SF of Land/Dwelling Unit, 75' Height Limit, 3.0 FAR)Key Highlights:Central Location - A short uber ride to Crypto.com Arena, Dodger Stadium, the Music Center, The Bro
Location
State CA
County Other
Area Listing
Interior
Fireplace No
Building
New Construction No
Others
Tax ID 5160022035
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Listed by Roger Phillips • Keller Williams Realty