5615 W Pico Boulevard

Los Angeles, CA 90019

PRICE REDUCED

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-$405,000 (-6.33%)

$5,995,000

List Price

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Property Description

Developers Dream - opportunity to acquire five contiguous lots located at 5613 - 5627 W Pico Blvd in the prime Mid-City submarket of Los Angeles. The 17,097 SF development site is zoned C4-1-O TOC Tier 2 allowing a developer to build +/- 45 units by-right or up to +/- 74 units utilizing the TOC density bonus. The site currently comprises a 4,077 square foot office building. The property offers a rare development opportunity as no previous rental units are on Lot and the new development will not be subject to the Rent Stabilization Ordinance. The property, situated in the Mid City neighborhood has a remarkable walk score of 91 (a walker's paradise), and offers residents a vibrant urban lifestyle. The property is just steps from renowned dining venues, bars,. Nearby attractions include LACMA, Little Ethiopia, The Peterson Automotive Museum, The Grove, Third Street Restaurants, Melrose Trading Post, and El Rey Theater, just to name a few. Future residents will enjoy convenient access to major transportation hubs and freeways, including the 10 freeway, and 101, facilitating easy commuting to employment hubs such as Downtown Los Angeles, San Fernando Valley, and Silicon Beach. For those looking for public transportation, there are several subway stops in proximity of the property including La Cienega/Jefferson and Expo/La Brea Stations. Additionally, Los Angeles International Airport is less than 30 minutes away. Please contact John Swartz or Jackie Carroll for more information.

Listing Information

List Price $5,995,000
Status Active
MLS 24413759
Type Land
Lot Size 17,097
Structure Size N/A
DOM 147
Courtesy Of Compass
Listing Agent John Swartz DRE#01873487

Interior Features

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Exterior Information

Maps

Listing information courtesy of: John Swartz, Compass 310-779-9929. *Based on information from the Association of REALTORS/Multiple Listing as of Dec 5th, 2024 at 2:36 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.