Los Angeles, CA 90019,1153 S Bronson AVE
Los Angeles, CA 90019,1153 S Bronson AVE
Los Angeles, CA 90019,1153 S Bronson AVE
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$1,465,000
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0.27 Acres Lot
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1153 S Bronson AVE Los Angeles, CA 90019

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Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID 25561899

HOA Y/N No

Lot Size 0.271 Acres

Property Description

We are pleased to present a development opportunity in Mid-City at 1153 Bronson Ave, a vacant lot located between W Pico Blvd and W Olympic Blvd. The lot totals 11,817 SF and is zoned R3-1-O-HPOZ in a Tier 3 TOC; there are currently no plans or entitlements in place. Initial feasibility studies indicate 14 units can be built by-right, or additional density can be achieved through various housing incentive programs, estimated up to 58-78 units (Buyer to verify). The subject property is being offered at a low price per square foot of$124. Rare opportunity to acquire a vacant lot at a low basis with no tenant relocation required. Mid-city is a densely populated neighborhood with historical and architectural significance. The demand for apartment units continues to increase year-over-year in this submarket with such close proximity to job and educational opportunities in Downtown Los Angeles, as well as the numerous transportation options available for an easy commute throughout the city. The subject property is surrounded by retail shops and restaurants on W Pico Blvd, north on W Olympic Blvd, south on Washington & Venice Blvd, and east on Western Ave. Various educational opportunities are located within a half mile of the property including Arlington Heights Elementary, Johnnie L. Cochran Jr Middle School, St Paul's School, City Language Immersion Charter School, and Los Angeles Technology Center. This central LA location is within a mile of I-10 and provides convenient access to most major neighborhoods throughout Los Angeles.

Location

State CA

County Los Angeles

Area C18 - Hancock Park-Wilshire

Zoning R3-1-O-HPOZ

Interior

Fireplace No

Exterior

View Y/N No

View None

Building

New Construction No

Others

Senior Community No

Tax ID 5081002018

Special Listing Condition Standard


CRMLS – RECore
Listed by Neema Ahadian Marcus & Millichap

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agent

Andre Hobbs

San Diego Broker / Military Veteran | License ID: 01485241

+1(619) 349-5151

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1153 S Bronson AVE