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Diego Magdaleno

diego@1visionproperties.com +1(714) 376-8652

$4,995,000

Est. payment - /mo

0.51 Acres Lot

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UPDATED:

12/19/2024 06:04 AM

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Pending

Purchase Type For Sale

MLS Listing ID SR24102025

HOA Y/N No

Year Built 2010

Lot Size 0.511 Acres

Property Sub-Type Multi Family

Property Description

Seize a rare and extraordinary opportunity to acquire and redevelop a three-lot assemblage spanning 22,253 square feet in the highly sought-after Greater-Wilshire neighborhood of Los Angeles. This property, available for the first time in over 50 years, includes 4718, 4720, and 4726 Oakwood Ave. The assemblage features two existing single-family residences: one with 2 bedrooms, 1 bathroom, and 1,065 square feet of living space, and the other with 3 bedrooms, 2 bathrooms, with 2,052 square feet of living space. The center lot is currently used as a driveway. Zoned LAR3 and located in TOC Tier 3, this prime location offers developers the potential to build up to 48 units with a TOC density bonus or up to 60 units, including 12 ADUs, with AB-2221(includes 12 ADUs) with a building envelope of 83,359 square feet. This is a once-in-a-generation chance to transform and maximize the value of a prime real estate asset in one of LA's most desirable areas.

Location

State CA

County Los Angeles

Area C18 - Hancock Park-Wilshire

Zoning LAR3

Interior

Fireplace No

Laundry None

Exterior

Utilities Available Electricity Connected, Sewer Connected

Present Use Residential

Building

Lot Description Rectangular Lot

Story 1

Water Public

Others

Tax ID 5522032014

Special Listing Condition Standard

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Listed by Ray Akbari • The Agency • 818-400-4344

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4718 Oakwood AVE Los Angeles, CA 90004