4705-4709 Elmwood Ave - Vacant Lots Zoned C2 | Greater Wilshire 0.33 Acres of Residential Land Offered at $3,650,000 in Los Angeles, CA 90004
INVESTMENT HIGHLIGHTS
- 14,499 SF Double Lot | Zoned C2
- 103 Apartment Units – ED1
- 74 Apartment Units – AB 1287
- Multiple Development Options
- 10 Small Lot Homes – SB 684
- 36 Apartment Units – By-Right
EXECUTIVE SUMMARY
Marcus & Millichap is excited to present 4705-4709 Elmwood Ave, a unique development opportunity in the highly desirable Greater Wilshire neighborhood of Los Angeles, California. This site presents significant upside potential through various development pathways, including maximizing density through ED1 affordable housing incentives or Small Lot Subdivision (SB 684) to build 10 homes.
Zoned C2-1 with a lot area of 14,499 sq. ft., the site offers multiple development options under current zoning and recent legislative incentives.
Development Options:
- ED1 (100% Affordable Housing)
- Small Lot Subdivision (SB 684)
- AB 1287 Density Bonus (Mixed-Income)
- By-Right Development
The property is strategically located in the highly desirable Wilshire Community Plan Area within the Greater Wilshire neighborhood, a vibrant and centrally located pocket of Los Angeles. The area is characterized by a mix of commercial corridors and charming residential neighborhoods, offering strong demand for both market rate and affordable housing.
Minutes from Koreatown, Larchmont Village, and Hancock Park, three of LA’s most sought-after residential and commercial districts. Excellent access to public transit via nearby Metro lines and key bus routes, with strong connectivity to major employment centers in Downtown LA, Hollywood, and the Miracle Mile. Located near major thoroughfares, including Western Ave, Beverly Blvd, and Melrose Ave, facilitating ease of commute and accessibility.
Zoned C2-1 with a lot area of 14,499 sq. ft., the site offers multiple development options under current zoning and recent legislative incentives.
Development Options:
- ED1 (100% Affordable Housing)
- Small Lot Subdivision (SB 684)
- AB 1287 Density Bonus (Mixed-Income)
- By-Right Development
The property is strategically located in the highly desirable Wilshire Community Plan Area within the Greater Wilshire neighborhood, a vibrant and centrally located pocket of Los Angeles. The area is characterized by a mix of commercial corridors and charming residential neighborhoods, offering strong demand for both market rate and affordable housing.
Minutes from Koreatown, Larchmont Village, and Hancock Park, three of LA’s most sought-after residential and commercial districts. Excellent access to public transit via nearby Metro lines and key bus routes, with strong connectivity to major employment centers in Downtown LA, Hollywood, and the Miracle Mile. Located near major thoroughfares, including Western Ave, Beverly Blvd, and Melrose Ave, facilitating ease of commute and accessibility.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
1 LOT AVAILABLE
Lot
| Price | $3,650,000 |
| Price Per AC | $10,965,867.61 |
| Lot Size | 0.33 AC |
1 of 1
Walk Score®
Walker's Paradise (95)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $40,464 | |
| Land Assessment | $614,858 | Total Assessment | $655,322 |
ZONING
| Zoning Code | C2-1 |
