Ray Akbari
The Agency
818-379-7700
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.
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Water Source : Public
Sewer : Public Sewer
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.5109
Lot Size Source: Assessor
Lot Size Square Feet: 22253
Original List Price: 4,995,000
Listing Contract Date: 2024-05-20
Listing Agreement: Exclusive Right To Sell
Parcel Number: 5522032014
Lease Term: Negotiable
Source Listing Status: Active
Source Neighborhood: C18 - Hancock Park-Wilshire
Postal Code Plus 4: 3113
Directions: North of Beverly Blvd - West of Western Ave.
Zoning: LAR3
Source Property Type: Land
Area: C18 - Hancock Park-Wilshire
Year Built Source: Vendor Enhanced
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
101 S Mariposa, Los Angeles, CA,90004 | $2,100,000 | 4 | 2 | 1,890 | 4796 Sqft |
161 S St Andrews Place, Los Angeles, CA,90004 | $4,550,000 | 21 | -- | 15,606 | 8490 Sqft |
641 N Hobart Boulevard, Los Angeles, CA,90004 | $7,550,000 | 18 | -- | 16,035 | 7506 Sqft |
543 N Heliotrope Drive, Los Angeles, CA,90004 | $2,150,000 | 10 | 5 | 4,808 | 8000 Sqft |
246 N Catalina Street #4, Los Angeles, CA,90004 | $2,500 | 1 | 1 | 690 | 7779 Sqft |
4835 Elmwood Avenue #4835, Los Angeles, CA,90004 | $4,100,000 | 17 | -- | 6,870 | 7248 Sqft |
315 N Normandie Avenue, Los Angeles, CA,90004 | $2,390,000 | 13 | -- | 3,908 | 4500 Sqft |
124 N Manhattan Place, Los Angeles, CA,90004 | $995,000 | 2 | 2 | 1,303 | 6626 Sqft |
134 N Mariposa Avenue, Los Angeles, CA,90004 | $13,750,000 | 60 | -- | 35,216 | 18030 Sqft |
4214 Rosewood Avenue, Los Angeles, CA,90004 | $1,700,000 | 10 | 4 | 4,581 | 6475 Sqft |
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ByOwner last updated this listing 06/16/2024 @ 20:30
MLS: SR24102102
LISTED BY: Ray Akbari, The Agency
SOURCE: CRMLS
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.