2854 W Pico, Los Angeles, CA 90006
- $1,300,000
- List Price
- $1,300,000
- Status
- ACTIVE
- MLS#
- PW26165438
- Year Built
- 1921
- Lot Size
- 6,358
- Acres
- 0.15
- Lot Location
- 0-1 Unit/Acre
- Days on Market
- 2
- Property Type
- Commercial
- Property Sub Type
- Retail
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.
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Additional Information
- Water
- Public
- Attached Structure
- Detached
Listing courtesy of Listing Agent: Mihwa Yi (sellhouse8282@gmail.com) from Listing Office: Epique Realty.
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.