SoldJan 3, 2022

Listed and Bought with Neema Ahadian from Marcus & Millichap

Source: Combined LA Westside Multiple Listing Service, Inc #21709470

5101 West Pico Boulevard, Los Angeles, CA, 90019

$8,750,000

31960 sq. ft.

Land

24 days on the market

Sold: Jan 3, 2022

What's around 5101 West Pico Boulevard

About this property

Spanning the entire block between S Redondo Blvd and Meadowbrook Ave, this is a 31,960 square foot development opportunity betweenVenice Blvd and S San Vincente Blvd in a prime Mid-Wilshire location. This development lot is zoned C4-1-O in a Tier2 TOC and presents an investor the opportunity to build up to 136 units utilizing the TOC benefits; there are currently no plans or entitlements in place. The site has alley access from S Redondo Blvd and Meadowbrook Ave, providing extra buildable square footage and options for parking ingress and egress. The majority of tenants are on month-to-month gross leases with a total income of $114,000 gross annually, allowing the developer the ability to collect income while obtaining permits and conducting the entitlement process.

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