$1,300,000
Est. payment /mo
1 Bed
6,509 Sqft Lot
New
2842 W Pico Los Angeles, CA 90006
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Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW26165346
Bedrooms 1
Lot Size 6,509 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
This is a bulk sale that includes 2836, 2842, 2846, 2854, and 2858 W. Pico Blvd. The total asking price for all five parcels is $6.5 million. The seller is not willing to sell the properties individually. The seller is also open to a 99-year ground lease. The asking ground lease rent is $32,500 per month for all five lots. The combined site area is approximately 32,500 square feet, making it an excellent opportunity for an affordable housing development in a prime location. The seller is currently pursuing entitlements with the HPOZ and the City Planning Department for a 100% affordable housing apartment project. The current proposal submitted to the City is for approximately 175 residential units. All five parcels must be sold together. This is an exceptional opportunity for developers and investors specializing in affordable housing or senior housing projects. Affordable housing developers and investors are encouraged to inquire.
Location
State CA
County Los Angeles
Zoning Public Rec
Direction Pico Blvd and Normandie Ave
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 5075010005
Acceptable Financing Cash, Conventional, Exchange, Lease Option
Listing Terms Cash, Conventional, Exchange, Lease Option
Listed by Mihwa Yi, DRE#01987254 Epique Realty
NEARBY SCHOOL & BUSINESS
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