2842 W Pico, Los Angeles, CA 90006
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$1,300,000
Est. payment /mo
6,507 Sqft Lot
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UPDATED:

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID PW26165346

HOA Y/N No

Year Built 1909

Lot Size 6,507 Sqft

Property Sub-Type Apartment

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.

Location

State CA

County Los Angeles

Area Krea - Koreatown

Interior

Fireplace No

Laundry Common Area

Exterior

Pool None

Community Features Street Lights, Sidewalks, Urban

Private Pool No

Building

Lot Description 6-10 Units/Acre

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 5075010005

Acceptable Financing Cash, Conventional, 1031 Exchange, Government Loan, Lease Option, Land Use Fee

Listing Terms Cash, Conventional, 1031 Exchange, Government Loan, Lease Option, Land Use Fee

Special Listing Condition Standard

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Listed by Mihwa Yi Epique Realty #01987254

NEARBY SCHOOL & BUSINESS

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