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Listed by Mihwa Yi • Epique Realty
$1,300,000
Est. payment /mo
UPDATED:
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW-26165438
Year Built 1921
Property Sub-Type Retail
Source California Regional Multiple Listing Service (CRMLS)
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.
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.
Location
State CA
County Los Angeles
Area Krea - Koreatown (L)
Interior
Laundry None
Building
Lot Description 0-1 Unit/Acre
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John R Thompson
Broker/Owner | License ID: 01200900
Broker/Owner License ID: 01200900