1212 South Westmoreland Avenue

Los Angeles, CA 90006

$2,650,000
Last Sold Price
11,739 / 0.27
Lot Size / Acres

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!
  1. Listed by Daniel Hirth • DRE #01515796 • Brokerage DRE #01854200 • Keller Williams-Santa Monica

Property Details for 1212 South Westmoreland Avenue

Zoning
LAR4
Parcel Number
5076018014
Area
Mid-Wilshire (C17)
Lot Size Area
11739
Source Lot Size Area
Vendor Enhanced
Home owner Dues
$0
Assessor Parcel Number
5076-018-014
Directions
Located 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 Courtesy of Keller Williams-Santa Monica, Daniel Hirth, DRE #01515796

Sold By Keller Williams-Santa Monica, Daniel Hirth, DRE #01515796

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LISTING UPDATED: 10/05/2020 09:57 AM

Property Details for 1212 South Westmoreland Avenue

StatusSold
MLS #19-507676
Days on Market237
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeLand
MLS TypeLot/Land
Year Built-
Lot Size0.27 AC
CountyLos Angeles County

Location

Listing Courtesy of Keller Williams-Santa Monica, Daniel Hirth, DRE #01515796

Sold By Keller Williams-Santa Monica, Daniel Hirth, DRE #01515796

Add your commute

Building Information for 1212 South Westmoreland Avenue

Lot Size0.27 AC

Payment Calculator

$17,240 per month

30 year fixed, 7.25% Interest

Principal and Interest

$14,462

Property Taxes

$2,778

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1212 South Westmoreland Avenue

Structure Info
Structure Info
  • View: No
  • View Description: None
  • View: None
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Land / Lot Info
Land / Lot Info
  • Special Zoning: Other
  • Lot Size Square Feet: 11739
  • Telephone: 0.0
  • Cable: 0.0
  • Geocode Override: 0.0
Lease Terms
Lease Terms
  • Entry Date: 09-05-2019

Property History for 1212 South Westmoreland Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

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.

Similar Homes

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Similar Sold Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams-Santa Monica, Daniel Hirth, DRE #01515796

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.