3550 S Western Avenue, Los Angeles, CA 90018
- $5,000,000
Listing courtesy of Listing Agent: Joseph Bolognese (joe@saxumwest.com) from Listing Office: Saxum West.
- List Price
- $5,000,000
- Status
- ACTIVE
- Days on Market
- 2
- MLS#
- 26985049
- Subtype
- Commercial Sale
- Year Built
- 1994
- Lot Size
- 40,769
- Acres
- 0.94
- Building Name
- 3550 S Western Ave
- MLS Area Major
- Los Angeles Southwest (C34)
Property Description
Unentitled commercial or mid-rise housing development opportunity near USC. Covered land play - all seven (7) tenants are month-to-month and are currently generating approximately $19,000 per month gross rental income. Redevelopment possibilities for a gym, school, senior/assisted living, housing, etc. Architect analysis showed a potential 169+ unit count (115 market rate, and 54 affordable) with the CPIO density bonus, for a 5-story mid-rise build with type IIIB construction.The primary site for sale includes three (3) contiguous parcels totaling 40,769 SF of land zoned C2-2D-O-CPIO. The corner lot (contiguous with the primary site) is owned by a separate seller and can also be delivered separately to complete the block. The corner lot would add an additional 5,857 SF of land, bringing the total size of the assemblage to over one (1) acre.This site presents an increasingly rare opportunity to secure an entire block ripe for development within the inevitable path of USC's continual westward expansion.
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Additional Information
- Zoning
- LAC2
Mortgage Calculator
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