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MLS:24-469393

5101 Pico, Los Angeles, CA 90019

Priced at: $10,000,000
Bedrooms:
0
Bathrooms (Full):
0
Bathrooms (Half):
0
Lot SqFt:
31,960 Sq Ft
We are pleased to present 5101-5125 W Pico Blvd. Spanning the entire block between S Redondo Blvd and Meadowbrook Ave, this is a 31,960 square foot development opportunity between Venice Blvd and S San Vincente Blvd in a prime Mid-Wilshire location. This development lot is zoned C4-1-O in a Tier 2 TOC. There are approved plans to build a 7-story, 107,754 SF building made up of 136 units and 12 ADU's. A Buyer can move forward with the plans, re-entitled for another project including affordable housing via ED-1, or reposition the existing retail and collect income with long-term development potential. obtaining permits and conducting the entitlement process. The site has alley access from S Redondo Blvd and Meadowbrook Ave, providing extra buildable square footage and options for parking ingress and egress. The current building consists of 10 retail units on month-to-month gross leases with a total income of $381,753 annually. Mid-Wilshire is a neighborhood in the central region of Los Angeles, California known for the Los Angeles County Museum of Art, the Petersen Automotive Museum, and the Miracle Mile shopping district. The subject property boasts a high walk score of 92, a "walker's paradise" in a central LA location with convenient access to local restaurants, shopping, employment, transportation, and nightlife. The neighboring block on South La Brea Ave hosts a brand-new Target and Sprouts development, one mile east is the Midtown Crossing Shopping Center, and one mile north is the iconic Miracle Mile shopping district, providing residents with a convenient destination shopping experience.

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MLS: 24-469393
5101 Pico, Los Angeles, CA 90019
Price: $10,000,000
Listing courtesy of Marcus & Millichap

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"Property information shown has been provided from various sources, which can include the seller and/or public records. It is believed reliable but not guaranteed and should not be relied upon without independent verification."

Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. All dimensions are estimates only and may not be exact measurements. Square Footages are approximate. Floor plans and development plans are subject to change. The sketches, renderings, graphic materials, plans, specifics, terms, conditions and statements are proposed only, and the developer, the management company, the owners and other affiliates reserve the right to modify, revise or withdraw any or all of same in their sole discretion and without prior notice. All pricing and availability is subject to change. The information is to be used as a point of reference and not a binding agreement.

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