1212 South Westmoreland Avenue
1212 South Westmoreland Avenue
$2,650,000
11,739 / 0.27
Sold 9/4/20
Description
1212 s. Westmoreland Avenue, a unique entitled 38-unit multifamily development opportunity. The property is comprised of approximately 11,750 SF lot area zoned R4-1XL. With rear alley access, current zoning and entitled plans, a developer can build up to 38 units. If a developer plans to utilize the TOC Tier 2 incentives, one can resubmit plans and potentially build up to 48 units. With tenants already evicted and the building demolished, this ideal development opportunity reduces costs and allows...1212 s. Westmoreland Avenue, a unique entitled 38-unit multifamily development opportunity. The property is comprised of approximately 11,750 SF lot area zoned R4-1XL. With rear alley access, current zoning and entitled plans, a developer can build up to 38 units. If a developer plans to utilize the TOC Tier 2 incentives, one can resubmit plans and potentially build up to 48 units. With tenants already evicted and the building demolished, this ideal development opportunity reduces costs and allows a developer to begin construction immediately! 1212 s. Westmoreland Avenue allows an investor to take advantage of the currently entitled plans to develop 38 units totaling 17,182 SF of building! The unit mix would consist of thirty-four (34) studios, two (2) one bed one bath, and two (2) two beds one bath units built within four stories with alley access which is favorable for subterranean parking in terms of ingress and egress. The property is also in the opportunity zone!
- Listed by Daniel Hirth • DRE #01515796 • Brokerage DRE #01854200 • Keller Williams-Santa Monica
Property Details for 1212 South Westmoreland Avenue
Zoning
LAR4
Parcel Number5076018014
AreaMid-Wilshire (C17)
Lot Size Area11739
Source Lot Size AreaVendor Enhanced
Home owner Dues$0
Assessor Parcel Number5076-018-014
DirectionsLocated in prime Koreatown submarket, adjacent to Downtown LA, located just north of Pico Boulevard, south of Olympic Boulevard, west of Hoover Street and east of Vermont Avenue.
Location
LISTING UPDATED: 10/05/2020 09:57 AM
Property Details for 1212 South Westmoreland Avenue
Status | Sold |
---|---|
MLS # | 19-507676 |
Days on Market | 237 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Land |
MLS Type | Lot/Land |
Year Built | - |
Lot Size | 0.27 AC |
County | Los Angeles County |
Location
Building Information for 1212 South Westmoreland Avenue
Lot Size0.27 AC
Payment Calculator
$17,240 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 1212 South Westmoreland Avenue
Property History for 1212 South Westmoreland Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1212 South Westmoreland Avenue
Taxable ValueLand$2,757,060Additions-Total$2,757,060
Tax Record2023$33,338 ($2,778 / month)
Home Facts
Beds7Total Finished SqFt4,619 SqFtAbove Grade Finished SqFt4,619 SqFtLot Size11,739 SqFtStyleResidentialYear Built1936ZoningLAR4CountyLOS ANGELESAPN5076-018-014
Schools near 1212 South Westmoreland Avenue
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Leo Politi Elementary School PublicK to 5 | ||
Berendo Middle School Public6 to 8 | ||
Contreras Learning Center-School Of Social Justice Public9 to 12 | ||
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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