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3042 Royal Street

Los Angeles, CA 90007
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SqFt5,424

Sqft(Lot)

We are pleased to present 3042 Royal St., an exceptional development opportunity in one of the most sought-after pockets of the USC student housing market, just steps from USC Village and the University of Southern California. Situated on a 5,424 SF lot with valuable alley access, the property offers a rare combination of location, zoning, and development flexibility. Located in an area where well-designed student housing can command premier rents, the property offers developers multiple potential paths to maximize the site. LAR3-zoned development sites are extremely rare within the USC student housing submarket, making the property particularly attractive for developers seeking density in a highly constrained location. The property allows for up to 6 units by right plus ADUs and is also l ocated within a TOC Tier 3 designation, providing the potential for up to 12 TOC units plus ADUs, subject to buyer verification. Importantly, the property has been vacant for more than five years, potentially allowing a developer to redevelop the site without replacement affordable housing requirements and pursue a fully market-rate student housing project, subject to buyer verification. Alternatively, a buyer may explore renovating and expanding the existing approximately 1,566 SF structure, creating additional density while preserving and enhancing the existing improvements. With strong housing demand driven by USC, the potential to achieve premier student housing rents, LAR3 zoning, TOC Tier 3 incentives, alley access, and multiple redevelopment strategies, 3042 Royal St. represents a compelling opportunity to develop or reposition a property in the heart of the USC student housing market.

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Detail Ic Property Details

Property Type : Land

Price : $1,395,000

AD Id : 89969235

MLS Id : 26876337

Lot Size : 5,424 Sqft(Lot)

County : Los Angeles

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  • Lot Information

    Main Square Feet: 5424 Lot Size Acres: 0.1245 Lot Size Square Feet: 5,424

  • Listing Price Information

    Listing Price: $1395000

  • Tax Information

    Parcel Number: 5123011009

  • Location Information

    Direction: 3042 Royal Street, 90007
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
2819 S Flower Street, Los Angeles, CA, 90007 $3,950,000 -- -- -- 13,394 Sqft(Lot)
3015 Shrine Place, Los Angeles, CA, 90007 $2,395,000 -- -- -- 10,074 Sqft(Lot)
3014 Royal Street, Los Angeles, CA, 90007 $2,000,000 -- -- -- 7,232 Sqft(Lot)
3018 Royal Street, Los Angeles, CA, 90007 $2,000,000 -- -- -- 7,232 Sqft(Lot)
3024 Royal Street, Los Angeles, CA, 90007 $2,000,000 -- -- -- 7,232 Sqft(Lot)

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ByOwner last updated this listing 09/04/2026 @ 08:06

MLS: 26876337 LISTED BY: Adam Shamooelian, Keller Williams Beverly Hills 310-432-6400 SOURCE: CRMLS

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