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Map
$1,599,000
↓ $170K (9.6%)
●
Land -
For Sale
1450 S Orange Grove Ave
Los Angeles, CA 90019
Studio
0 Bath
$7,852
Estimated Monthly
$0
HOA / Fees
About This Property
REDUCED. We are proud to exclusively present for a sale an
ED1 Redevelopment Opportunity in Picfair Village, Los Angeles.
Situated on S. Orange Grove Ave., between Pico Blvd. and
Saturn St., this 7,125 SF [Q] R3-1-O Tier 3 lot is very close to
the Pico & Fairfax intersection. The existing Triplex,
consisting of all 1+1s, is vacant and perfect for a rehab and
owner-user. The Project Plans are already submitted to Los
Angeles Building and Safety and Letter of Determination has been
issued. Consisting of eight 1+1 and eight 3+1 units, the
Project has been designed with special attention to detail.
Three of the units will be dedicated to Extremely Low Income
households. With on-grade (and no subterranean) parking, this
Project will provide 5 parking spaces. An alternative
lucrative project can potentially utilize ED1 - for which this site
is eligible. Dedicating 100% of the rental units to
Affordable Housing can potentially increase the density of a
redevelopment project to 39+/-units. The Two 100% Affordable
Housing development scenarios that can potentially be built are:
31+/- units, 4 Story Type V Construction or 39+/- units, 5 Story
Type III Construction. The neighborhood features average
household incomes almost $117,000 in a 1 mile radius, showing that
this area attracts a high-earning rental pool. This very
central location, surrounded by a great variety of restaurants,
nightlife and shopping, is walking distance to Vons and a short
drive to LACMA, The Grove and The Farmers Market, among others.
The area is designated as Very Walkable by Walk Score.
Easy access to 10 freeway makes this property an easy to
commute around Los Angeles.
Unit Size
-
Days on Market
146 days
Land Size
0.16 acres
Price per sqft
-
Property Type
Land
Property Taxes
-
HOA Dues
-
Year Built
1940
Listed By
Last updated: 2 months ago (CLAWCA #336895)
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
Mar 19, 2024 | Price Decreased |
$1,599,000
↓ $170K
(9.6%)
|
|
Price Decreased | |||
Dec 4, 2023 | Listed by KELLER WILLIAMS BEVERLY HILLS REALTY | $1,769,000 | |
Listed by KELLER WILLIAMS BEVERLY HILLS REALTY | |||
Jul 11, 2023 | No longer available | - | |
No longer available | |||
May 5, 2023 | Price Decreased |
$1,950,000
↓ $250K
(11.4%)
|
|
Price Decreased | |||
Feb 9, 2023 | Listed by KELLER WILLIAMS BEVERLY HILLS REALTY | $2,200,000 | |
Listed by KELLER WILLIAMS BEVERLY HILLS REALTY | |||
|
|||
REDUCED! We are proud to exclusively present for a sale a
Redevelopment Opportunity in Picfair Village, Los Angeles. Situated
on S. Orange Grove Ave., between Pico Blvd. and Saturn St., this
7,125 SF [Q] R3-1-O Tier lot 3 lot is very close to the Pico &
Fairfax intersection. The Project will be delivered with an
approved Letter of Determination. The Project Plans are already
submitted to Los Angeles Building and Safety. Consisting of six
1+1, five 2+1, one 2+2, four 3+2 units, the…
|
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Property Highlights
Building Info
Overview
Building
Neighborhood
Zoning
Geography
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Other
Loft
-
3,313 ft²
$557/ft²
$1,845,000
Jan 2, 2024
-
-
Active
House
3
Beds
3
Baths
1,714 ft²
$1,009/ft²
$1,729,000
Dec 11, 2023
-
-
Active
House
3
Beds
2
Baths
1,772 ft²
$1,072/ft²
$1,899,000
Nov 27, 2023
-
-
House
3
Beds
2
Baths
1,750 ft²
$902/ft²
$1,579,000
Jan 9, 2024
-
-
Multifamily
3
Beds
2
Baths
2,506 ft²
$603/ft²
$1,510,000
Aug 12, 2023
-
-
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