249 S Avenue 54, Los Angeles, CA 90042
249 S Avenue 54, Los Angeles, CA 90042
249 S Avenue 54, Los Angeles, CA 90042
249 S Avenue 54, Los Angeles, CA 90042
249 S Avenue 54, Los Angeles, CA 90042
249 S Avenue 54, Los Angeles, CA 90042
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Ruby Raymond

Ruby Raymond

+1(805) 201-6341
$ 2,450,000
Est. payment | /mo

0.4 Acres Lot

Save
$ 2,450,000
Est. payment | /mo
Save

0.4 Acres Lot

Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID PW25174973

HOA Y/N No

Lot Size 0.399 Acres

Property Description

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.

Location

State CA

County Los Angeles

Area 632 - Highland Park

Zoning LARD2

Interior

Fireplace No

Exterior

Community Features Biking, Dog Park, Hiking, Mountainous, Street Lights, Suburban, Sidewalks

Utilities Available Electricity Available, Natural Gas Available, Sewer Available, Water Available

View Y/N Yes

View City Lights, Canyon, Hills, Neighborhood, Trees/Woods

Present Use Investment,Multi-Family

Building

Lot Description 0-1 Unit/Acre, 11-15 Units/Acre, 6-10 Units/Acre, Back Yard, Front Yard, Lawn, Value In Land

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 5468013025

Acceptable Financing Submit

Listing Terms Submit

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Martin Fish Citivest Realty Services, Inc 310-905-4834, DRE #01988997

NEARBY SCHOOL & BUSINESS

REVIEWS

Ximena Ames Nugent

Professional & Paid Attention to My Needs

I am very impressed with the professionalism of this team! They worked very hard with terrific attention to details and respect for my needs. I would highly recommend Ruby and Patrick as they are knowledgeable, and dedicated to their clients.

Jeff M

Purchase

Ruby and the Raymond Team were great. We're in our new home right now writing this. Ruby helped make this happen and if you are looking for a home in the 5 Cities area I suggest you give Ruby a call. Thanks Ruby, SM

RonSteinback

The broker that everyone hopes to hire!

Patrick listed and sold two properties for me this year, and I intend to use him on a third transaction. Patrick is responsive and knows the local area. I am a broker myself, but located in southern California. Patrick is the broker that everyone hopes to hire!

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How Does The Raymond Team Deliver Exceptional Real Estate Service?

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Ruby Raymond
Ruby Raymond

Broker Associate | License ID: 01342959

+1(805) 201-6341 | homes@raymondteamre.com

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By checking this box, I agree by electronic signature to the Electronic Disclosure Consent Agreement; to receive recurring marketing communication from or on behalf of Ruby Raymond, including auto-dialed calls, texts, and artificial/prerecorded voice messages (message frequency varies; data rates may apply; reply "STOP" to opt-out of texts or "HELP" for assistance); and to the Terms of Service and Privacy Policy of this website. Consent not required to make a purchase. I understand that I can call to obtain direct assistance.