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1223 W Court St
0.17 Acre Residential Land Lots Offered at $2,400,000 Per Lot in Los Angeles, CA 90026
Investment Highlights
- Multi-family Zoning – Existing zoning allows high density multi-family communities.
- Emerging Area – Within a few blocks of the site there are close to 500 new units across 7 new apartment communities and even more beyond that immediat
- TOC Tier 2 – City of Los Angeles Transit Oriented Communities Affordable Housing Incentive Program. Tier to be verified with current transportation se
- Central Location – A short uber ride to Crypto.com Arena, Dodger Stadium, the Music Center, The Broad Museum, Echo Park, Chinatown, Little Tokyo
- Contiguous Parcels- A substantial plot of contiguous land, ideal for residential development projects
- QCT – Site is within QCT designated areas that are sought after by affordable housing tax credit developers (Qualified Tracts Area per 2024 HUD map).
Executive Summary
Add Units to Existing Apartment Site: You can increase density by adding units under current zoning and accessory dwelling unit (ADU) regulations. This could involve transforming underutilized areas, such as basements or attics, into additional rental units.
Build New Units on Vacant Parcels: Utilize the vacant lots to construct new housing units. You can tailor these developments to meet market demand, whether for affordable housing, luxury apartments, or townhomes.
Demolish Existing Buildings: If the current structures aren’t generating sufficient income or are in poor condition, demolishing them could be a viable option. Developing the entire site allows for a more unified design and maximizes density.
Land Bank Vacant Lots: Holding onto vacant lots can be a smart strategy, particularly if you expect future growth in the area. This allows you to wait for the right time to develop, potentially increasing the properties’ value.
Property Facts In Escrow
| Price | $2,400,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Residential |
| No. Lots | 3 | Total Lot Size | 0.50 AC |
| Price | $2,400,000 |
| Sale Type | Investment |
| No. Lots | 3 |
| Property Type | Land |
| Property Subtype | Residential |
| Total Lot Size | 0.50 AC |
3 Lots Available
Lot 1
| Price | $2,400,000 | Lot Size | 0.17 AC |
| Price Per AC | $14,401,959 |
| Price | $2,400,000 |
| Price Per AC | $14,401,959 |
| Lot Size | 0.17 AC |
(APN 5160-022-034, 035,036) totaling approximately 21,750 SF (0.5 Acres) of land and also includes an existing 8-unit apartment building.
Lot 2
| Lot Size | 0.17 AC |
| Lot Size | 0.17 AC |
(APN 5160-022-034, 035,036) totaling approximately 21,750 SF (0.5 Acres) of land and also includes an existing 8-unit apartment building.
Lot 3
| Lot Size | 0.17 AC |
| Lot Size | 0.17 AC |
(APN 5160-022-034, 035,036) totaling approximately 21,750 SF (0.5 Acres) of land and also includes an existing 8-unit apartment building.
Description
This incredible assemblage of three parcels (APN 5160-022-034, 035,036) totaling approximately 21,750 SF (0.5 Acres) of land and also includes an existing 8-unit apartment building. All units are 2bd/1ba. Two units are currently vacant and in need of renovation. Those two units will be delivered as-is. This year the roof was replaced and the building exterior was painted. The site is located in the Westlake neighborhood in Los Angeles just West of Downtown Los Angeles. Over the last five years the area has seen a great renewal with hundreds of new units built within a few blocks of the subject site.
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $99,957 | |
| Land Assessment | $164,759 | Total Assessment | $264,716 |
PROPERTY TAXES
zoning
| Zoning Code | R4(CW)-75/3-0 (Zoning: R4(CW)-75/3-0 (Density 400 SF of Land/Dwelling Unit, 75' Height Limit, 3.0 FAR)) |
| R4(CW)-75/3-0 (Zoning: R4(CW)-75/3-0 (Density 400 SF of Land/Dwelling Unit, 75' Height Limit, 3.0 FAR)) |
Presented by
1223 W Court St
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