249 S Avenue 54,Los Angeles, CA 90042
Los Angeles, CA 90042
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 in a high-demand, centrally located project ready for immediate development and long-term success.
Details
| MLS # | PW25174973 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 356 |
| Listing Provided By | Citivest Realty Services, Inc | Martin Fish |
Features
| Zoning | LARD2 |
|---|---|
| Acreage | 0.40 |
| Property View | Yes |
Exterior
| Lot Features | Zero To One Unit Acre, Eleven To Fifteen Units Acre, Six To Ten Units Acre, Back Yard, Front Yard, Lawn, Value In Land |
|---|
Utilities
| Utilities | Electricity Available, Natural Gas Available, Sewer Available, Water Available |
|---|---|
| Electric | Electricity On Property |
| Sewer | Public Sewer |
Location
| Community Features | Biking, Dog Park, Hiking, Mountainous, Street Lights, Suburban, Sidewalks |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90042 |
| Area | 632 Highland Park |
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90042 |
| Area | 632 Highland Park |
 | $3,998,888281 S Avenue 52Los Angeles, CA 90042 |