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$5,750,000

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0.48 Acres Lot

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4631 Beverly BLVD Los Angeles, CA 90004

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Jenny Wu

offer@jennywurealty.com +1(909) 569-8888

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Key Details

Property Type Commercial

Sub Type Business

Listing Status Active

Purchase Type For Sale

MLS Listing ID SR25015280

HOA Y/N No

Year Built 1935

Lot Size 0.482 Acres

Property Sub-Type Business

Property Description

We are excited to present to you this once in a generation opportunity to acquire and redevelop a 3-lot assemblage spanning 0.48 acres of land (21,000 square feet) zoned LAC2. In the highly sought-after Greater-Wilshire neighborhood, the sites are located at 4623-4631 Beverly Blvd. These lots have been under the same family's ownership for more than 50 years, signifying the rare opportunity available to developers. The current structures are vacant and have been vacant for more than 3 years, there will be no housing replacement requirements due to the structures that will be demolished.
Additionally, due to the central location and the impressive 97 walk score, the sites are given Tier 3 status of the Transit Oriented Communities (TOC) incentive program, further increasing the development potential. Developers can build up to 91 units with a building envelope of 73,121 square feet on the sites. Using the TOC incentives to achieve this unit count and building envelope comes with a requirement of at least 10% of the units being set aside for low-income families. That equates to a minimum of 9 affordable housing units when building the maximum 91 units, leaving 82 market-rate units without any rent control limitations.

Location

State CA

County Los Angeles

Area C17 - Mid-Wilshire

Interior

Fireplace No

Laundry None

Exterior

Utilities Available Electricity Connected, Natural Gas Available, Sewer Connected

Building

Lot Description Tear Down

Story 2

Water Public

Others

Tax ID 5522032006

Special Listing Condition Standard

Listed by Ray Akbari The Agency 818-400-4344

NEARBY SCHOOL & BUSINESS

SCHOOLSPROPERTIES

Elementary Schools 20

10

Ivanhoe Elementary

Public | KG - 5
9

Citizens of the World Charter

Public | KG - 8
9

Equitas Academy Charter

Public | KG - 5
8

Melrose Avenue Elementary School

Public | KG - 6
8

3rd Street Elementary School

Public | KG - 5
8

Larchmont Charter

Public | KG - 12
8

Queen Anne Place Elementary School

Public | KG - 5
8

Los Feliz STEMM Magnet School

Public | KG - 6
8

Hoover Street Elementary

Public | KG - 5
8

Franklin Avenue Elementary

Public | KG - 5
7

Gardner Street Elementary

Public | PK - 5
7

Cheremoya Avenue School

Public | PK - 6
7

Hollywood Primary Center

Public | KG - 3
7

Dr. Sammy Lee Medical and Health Science Magnet

Public | KG - 5
6

Cienega Elementary School

Public | KG - 5
6

Wilshire Park Elementary

Public | KG - 5
6

Van Ness Avenue Elementary

Public | KG - 5
6

Kim Elementary School

Public | KG - 5
6

Cahuenga Elementary School

Public | KG - 5
6

Downtown Value

Public | KG - 8

Middle Schools 20

8

Rise Kohyang Middle School

Public | 6 - 8
7

Alliance Gertz-Ressler Richard Merkin 6-12 Complex

Public | 6 - 12
6

John Burroughs Middle School

Public | 6 - 8
6

Virgil Middle School

Public | 6 - 8
6

Thomas Starr King Middle School

Public | 6 - 8
5

Pico Pico Middle School

Public | 6 - 8
4

Magnolia Science Academy 5

Public | 6 - 12
4

Bancroft Middle School

Public | 6 - 8
4

Joseph Le Conte Middle School

Public | 6 - 8
4

RFK Community Schools - Ambassador School of Global Leadership

Public | 6 - 12
4

Los Angeles Academy of Arts & Enterprise Charter

Public | 6 - 12
4

Vista Charter Middle School

Public | 6 - 8
4

Alliance College-Ready Middle Academy No. 12

Public | 6 - 8
2

Monsenor Oscar Romero Charter Middle School

Public | 6 - 8
1

Johnnie Cochran Jr. Middle School

Public | 6 - 8
1

Apex Academy

Public | 7 - 12
1

Berendo Middle School

Public | 6 - 8
1

Young Oak Kim Academy

Public | 6 - 8
1

John Liechty Middle School

Public | 6 - 8
1

Sal Castro Middle School

Public | 6 - 8

High Schools 20

9

Alliance Dr. Olga Mohan High School

Public | 9 - 12
8

John Marshall High School

Public | 9 - 12
7

Math and Science College Preparatory

Public | 9 - 12
7

Frederick Douglass Academy High School

Public | 9 - 12
7

STEM Academy of Hollywood

Public | 9 - 12
7

Central City Value

Public | 9 - 12
7

Camino Nuevo High No. 2

Public | 9 - 12
7

Alliance College-Ready Academy High No. 16

Public | 9 - 12
5

Hollywood High School

Public | 9 - 12
5

Belmont Sh-la Teacher Preparatory Academy

Public | 9 - 12
4

RFK Community Schools - Los Angeles High School of the Arts

Public | 9 - 12
3

Los Angeles High School

Public | 9 - 12
3

Belmont High School

Public | 9 - 12
1

Helen Bernstein High School

Public | 9 - 12
1

RFK Community Schools - School for the Visual Arts & Humanities

Public | 9 - 12
1

West Adams Preparatory High School

Public | 9 - 12
1

Early College Academy-la Trade Tech College

Public | 9 - 12
1

Youthbuild Charter School of California

Public | 9 - 12
0

Bais Yaakov School for Girls

Private | 9 - 12
0

Yeshiva Gedolah of los Angeles

Private | 9 - 12

School and business data provided by Attom Data.

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Jenny Wu

Agent | License ID: 01817291

+1(909) 569-8888

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4631 Beverly BLVD Los Angeles, CA 90004

Jenny Wu

Key Details

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NEARBY SCHOOL & BUSINESS

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