Views
Address
2834 W Leeward Avenue Los Angeles, CA
Price
$ 2,295,000
Property Attributes
  • MLS#20642428
  • TypePending
  • CountyLOS ANGELES
  • CityLos Angeles
  • AreaMid-Wilshire
  • Zip90005
  • Style
  • Price$ 2,295,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size9,148 SqFt
Listing Provided Courtesy Of:
Armin Soleimani with Global Platinum Properties, Inc.
Property Description

100% vacant 5-unit building with 40-unit development potential in Koreatown priced at only 57k per buildable unit. Renovate existing 5 units to capture a huge upside to 6% Cap and 12 GRM or Redevelop to 40 apartments/condos that are selling for 600-800k per unit at 2939 Leeward Ave. The subject 9,417 SF lot is in an R4-2 zone with the benefits of TOC Tier-3 and Opportunity Zone. Build 40 units using the TOC designation or 23 units by right. There are currently 2 structures on the property, totaling 4,940 SF and 5 units that could provide cash flow during the entitlement process. Preliminary Plans call for 40 units (4 Affordable) and 33,700 SF of floor area in 6 levels of residential over 1 level of ground floor parking level and 1 level of semi-subterranean parking for a total of 31 parking spaces. The proposed unit mix includes 8 Junior 1-bedroom, 12 Larger 1-bedroom, and 20 2-Bedroom units. Walking distance to Wilshire/Vermont Metro Station (0.4 mi), Restaurants and bars in K-Town!

Price History
10/6/2020 Listed $2,295,000

General Features

Co-Listing Agent Last Name Julio
Co-Listing Agent Last Name Ruiz
Co-Listing Agent State License # 01911261
Co-listing Agent Julio Ruiz - BRE#01911261
Directions Turn West onto Leeward Ave from Hoover St.
Listagentaor Beverly Hills/Greater LA
Listing Agent Armin Soleimani - BRE#01846872
Listing Agent State License 01846872
MLS Area C17 - Mid-Wilshire
Price Per Square Foot 243.71
Source System CRMLS
Special Listing Conditions Standard
Topography Flat
View City Lights
Zoning LAR4

Exterior Features

Lot Dimensions 60x157
Lot Features Front Yard, Value In Land, Rectangular Lot
Lot Size Acres 0.2100
Lot Size Area 9417.0000
Lot Size Square Feet 9417.00
Lot Size Units Square Feet
Usable Land Percent ...

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 90005

Price
AVG $1.35M
$2.3M
Visits
AVG 50
4
Walkscore
AVG 92
95
Data Provided by Walkscore ® not using MLS data

Looking for a more comfortable experience?

Download our mobile app for a personalized browsing experience.