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Listed by Martin Fish • Citivest Realty Services, Inc
$ 2,895,000
Est. payment /mo
Active
249 S Avenue 54 Los Angeles, CA 90042
17,390 SqFt
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
Square Footage 17,390 sqft
Price per Sqft $166
MLS Listing ID CRPW25174973
HOA Y/N No
Lot Size 0.399 Acres
Property Sub-Type Unimproved Land
Source Datashare California Regional
Property 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
Location
State CA
County Los Angeles
Interior
Fireplace No
Exterior
View Canyon, City Lights, Hills, Trees/Woods, Other
© 2025 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
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