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4201 W Pico Blvd
Los Angeles, CA 90019

Land For Sale · 1.21 AC

Investment Highlights

  • This 52,738 square foot development opportunity consists of the entire block between Crenshaw Blvd and Victoria Ave in Mid-City
  • There are currently no plans or entitlements in place; the C4-1-O parcels total 43,448 SF
  • The current site consists of 7 retail units on month-to-month gross leases
  • This development lot is zoned C4-1-O; R1-1-O-HPOZ in a Tier 3 TOC and presents an investor the opportunity to build 189 units utilizing the TOC
  • The subject property is being offered at a low price per square foot of $239

PROPERTY FACTS

Property Type Land
Property Subtype Commercial
Total Lot Size 1.21 AC

Description

The Neema Group of Marcus & Millichap is pleased to present 4201-4225 W Pico Blvd. This 52,738 square foot development opportunity consists of the entire block between Crenshaw Blvd and Victoria Ave in Mid-City. This development lot is zoned C4-1-O; R1-1-O-HPOZ in a Tier 3 TOC and presents an investor the opportunity to build 189 units utilizing the TOC benefits; there are currently no plans or entitlements in place. The subject property is being offered at a low price per square foot of $239. The current site consists of 7 retail units on month-to-month gross leases with a total income of $425,400 gross annually which includes $600 annual billboard income, plus two single-family residences, allowing the developer the ability to collect income while conducting the entitlement process. Mid-city is a densely populated neighborhood with historical and architectural significance. The demand for apartment units continues to increase year-over-year in this submarket with such close proximity to job and educational opportunities in Downtown Los Angeles, as well as the numerous transportation options available for an easy commute throughout the city. The subject property is surrounded by retail shops and restaurants on W Pico Blvd, north on W Olympic Blvd, south on Washington & Venice Blvd, and east on Western Ave. Various educational opportunities are located within a half mile of the property including Arlington Heights Elementary, Johnnie L. Cochran Jr Middle School, St Paul’s School, City Language Immersion Charter School, and Los Angeles Technology Center. This central LA location is within a mile of I-10 and provides convenient access to most major neighborhoods throughout Los Angeles.

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • 5082-024-016
  • 5082-024-018
  • 5082-024-017
  • 5082-024-001
Land Assessment
$7,343,689
Improvements Assessment
$2,115,577
Total Assessment
$9,459,266

zoning

Zoning Code C4-1-O; R1-1-O-HPOZ
C4-1-O; R1-1-O-HPOZ
  • Listing ID: 22520772

  • Date on Market: 2021-03-19

  • Last Updated:

  • Address: 4201 W Pico Blvd, Los Angeles, CA 90019

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