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About This Home
This land at 249 S Avenue 54 in Los Angeles, CA is listed for $2,450,000 (0.40 acres).
12 Unit RTI project with alley access. Located in the vibrant Highland Park community of Los Angeles, 249 S Avenue 54. This offers a rare development opportunity with RTI (Ready-To-Issue) permits in place. The existing property features three separate bungalow homes with alley access.
NO RELOCATION, THE PROPERTY IS DELIVERED FULLY VACANT. The approved plans allow for four new construction duplex structures and two detached ADUs. Upon CofO, the new owner will be able to capture six (6) additional ADUs by right. Recent code updates allow for 8 ADUs bringing the unit count to 16 total.
The new project will feature (8) 5B/5B units and (8) 2B/2B ADUS, each thoughtfully designed to meet the needs of modern urban living. The building will encompass approximately 24,210 square feet on a 17,882 square foot lot, designed with contemporary finishes, energy-efficient features, a full sprinkler system, and full compliance with the latest seismic and building codes.
Situated just minutes from Downtown Los Angeles, tucked in between Griffith Obervatory and the 110 Parkway, the property benefits from a strong demand for rental housing, making it ideal for families or co-living operations. The estimated annual NOI is approximately $768,903. Avenue 54 offers an outstanding opportunity to invest in a high-demand, centrally located project ready for immediate development and long-term success.
Key Features
- 0.40 acre lot
Amenities
Location
249 S Avenue 54
Los Angeles, CA 90042
Features & Amenities
Exterior Features
Property Details
Views
Questions & Answers
This 0-bedroom, 0-bathroom land at 249 S Avenue 54 is listed at $2,450,000. The estimated monthly payment is $10,617 based on 20% down at 6.5% interest.
Key features include: 0.40 acre lot. Exterior Features: Fence, Community Features Included: Biking, Dog Park.
This property is listed by Martin Fish and can be reached at 3109054834 or Martin@streetlamppartners.com.
