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$ 4,995,000
Est. payment | /mo
0.51 Acres Lot
$ 4,995,000
Est. payment | /mo
0.51 Acres Lot
Key Details
Property Type Vacant Land
Sub Type Other Residential Land
Listing Status Pending
Purchase Type For Sale
MLS Listing ID CRSR24102102
Originating Board California Regional MLS
Lot Size 0.511 Acres
Property Sub-Type Other Residential Land
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 LSR
Exterior
View None
Building
Water District - Public
Others
Tax ID 5522032014
Special Listing Condition Not Applicable
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Listed by Ray Akbari • The Agency
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Tim Alford & Faye Bon
REALTOR® | Lic# 01507448 | 01746037