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One of the coolest properties to hit the market in 2023! Looking for something unique, creative that is part of LA History with future development upside? Compass Commercial is pleased to present 1406, 1418 and 1424 E Pleasant Ave a 34,842 SF LAR3-TOC3 zoned development opportunity with an interim income use. 1406 E. Pleasant Ave. (APN #021) was built in 1927 as an ice creamy manufactory plant and in 1948 became home to the Carnation Ice Company. Today about 5,600 SF of the original structure exists and consists of three (3) studio work lofts along with an indoor and outdoor gallery space, which will be delivered vacant. Including the large parking area this parcel is about 23,376 SF. Adjacent to the south is 1418 E. Pleasant Ave. (APN #020), a single-family residence built in 1885. Known as, Mount Pleasant Bakery, this potentially historic resource property is tenant occupied, the parcel is approximately 6,233 SF. Further to the south is 1424 E. Pleasant Ave (APN #021), a 6,233 SF vacant land parcel. All three parcels to be sold together (APN's 5174-021-020, 021 & 022). The total site could potentially develop about 75 dwelling units utilizing the TOC 3 bonus density. Buyer is advised to perform their own investigation and to verify building size, property size, building configuration, development potential, permitted use, historic relevance, and that all building systems are up to code.

1406 E Pleasant Ave, Los Angeles

Courtesy of , D. Timothy Byrne - CA DRE#

5 Beds 5 Baths ACTIVE Status
We are pleased to present a five (5) unit apartment building located at 2505 Chelsea Street in Los Angeles, California. The subject property is situated in a quiet Northeast Los Angeles location, north of Marengo Street and east of North Soto Street. Built in 1924, this property contains a streamlined unit mix of five (5) studio / one-bathroom units with potential to add at least one (1) ADU on a large 7,968 square foot lot. The units are split between three (3) bungalow style buildings with two (2) water meters. Property is separately metered for gas and electric. Along with ample on-site parking available from the entrance on Ricardo Street, the property features a large yard with endless value-add possibilities. Residents will love being in a quiet residential pocket with plenty of street parking available, just two (2) blocks away from the USC medical center. The USC Health & Sciences campus is also within walking distance, along with all the upscale retail, restaurant, and entertainment amenities that come with it. Outdoor recreation is available one (1) block away at Kira field & recreation center. Situated in a quiet Northeast Los Angeles location, this offering presents an excellent opportunity for any investor to capitalize on over 135% rental upside potential with potential to add up to two (2) ADU units in a residential pocket of Los Angeles, two (2) blocks from the USC medical center.

2505 Chelsea St, Los Angeles

Courtesy of , Jason Tuvia - CA DRE#

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