Plot of land For Sale

$12,600,000

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4201 W Pico Boulevard

  • – beds
  • – baths
  • – sqft
  • ~1 acre lot
  • on site

This 52,738 square foot development opportunity consists of the entire block between Crenshaw Blvd and Victoria Ave in Mid-City. This development lot is zoned C4-1-O; R1-1-O-HPOZ in a Tier 3 TOC and presents an investor the opportunity to build 189 units utilizing the TOC benefits; there are currently no plans or entitlements in place.The subject property is being offered at a low price per square foot of $239. The current site consists of 7 retail units on month-to-month gross leases with a total income of $425,400 gross annually which includes $600 annual billboard income, plus two single-family residences, allowing the developer the ability to collect income while conducting the entitlement process.Mid-city is a densely populated neighborhood with historical and architectural significance. The demand for apartment units continues to increase year-over-year in this submarket with such close proximity to job and educational opportunities in Downtown Los Angeles, as well as the numerous transportation options available for an easy commute throughout the city.The subject property is surrounded by retail shops and restaurants on W Pico Blvd, north on W Olympic Blvd, south on Washington & Venice Blvd, and east on Western Ave.

CRMLS_CA logo Listing courtesy of CRMLS_CA / Neema Ahadian / Marcus & Millichap

Last checked: Checking… • Last updated May 12, 2021 •

MLS# 21709344 —

Amenities & Taxes

Location

Directions:
Located on W Pico Blvd
Latitude:
34.04806300
Longitude:
-118.32682100

The Property

Zoning:
C4-1-O; R1-1-O-HPOZ
Lot Size Area:
52738.0000
Lot Size Acres:
1.2100
Lot Size Square Feet:
52738.00
View:
None
Lot Size Source:
Other
Additional Parcels:
Yes

Listing Agent

Contact info:

The Listing

Buyer's Brokerage Compensation:
1.000%
Special Listing Conditions:
Standard
Buyer's Brokerage Compensation:
$1
Parcel Number:
5082024018

The Community

Senior Community:
No

Schools

Rating Details

Queen Anne Place Elementary School

  • Public
  • K-5
  • 0.4 mi

Johnnie L Cochran Jr Middle School

  • Public
  • 6-8
  • 0.4 mi

Los Angeles High School

  • Public
  • 9-12
  • 0.7 mi

GreatSchools scores are based on a scale from 1 to 10, where 10 is above average.

The school service areas are not definitive and should only be used as guidance. GreatSchools Ratings provided by www.greatschools.org

Flood Risk

This property has minimal flood risk

This property has a . Although flood risks across the country are changing because of the environment, this property is unlikely to flood over the next 30 years.

Provided by Flood Factor®

Flood Insurance

Recommended: MassiveCert estimates that this property is in FEMA Zone X, which means that flood insurance is recommended, but not required.

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WalkScore®

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Sale history

Date Event Source Price % Change
4/12/21
Price Changed CRMLS_CA $12,600,000 -16.0%
3/23/21
Listed / Active CRMLS_CA $15,000,000

Finding records…

No additional history available

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4201 W Pico Boulevard
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