CA > Los Angeles
Los Angeles, CA 90004,4631 Beverly BLVD
Los Angeles, CA 90004,4631 Beverly BLVD
Los Angeles, CA 90004,4631 Beverly BLVD
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John Herkenrath

John Herkenrath

+1(310) 221-2910
$5,750,000
Est. payment /mo
0.48 Acres Lot
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UPDATED:

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

Read Less Info
CRMLS – RECore
Listed by Ray Akbari The Agency 818-400-4344
John Herkenrath

"John takes great pride in helping his clients through every step of the buying and selling process. Leveraging two decades of experience in pre-construction, new home sales and market sales exclusive representation. his vast knowledge in brokering home sales within luxury communities and new developments has proven invaluable to his clients."

+1(310) 221-2910

johnherkenrath@epiquerealty.com

8383 Wilshire Blvd #800 Beverly Hills CA 90211

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