For Sale
$2,800,000

1228 Normandie AveLos Angeles, CA 90006

0.4 Acres, R4-1VL Zoning, $2.8M

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 0.407-acre land parcel in Los Angeles, CA (90006), presents a prime development opportunity. Located at 1228 Normandie Ave, near the intersection of W. Pico Blvd and S. Normandie Ave, this property boasts an R4-1VL zoning designation. Its strategic location offers easy access to major interstates I-10 and I-110, placing it within a heavily trafficked area. The site comprises three contiguous parcels within an Opportunity Zone, indicating potential for significant tax advantages. Previous plans envisioned a five-story, 75-unit multifamily residential building with 12 parking spaces, designed for 100% affordable housing. However, future owners have the flexibility to pursue alternative development plans, capitalizing on the area's rapid growth and transformation. The asking price is $2,800,000. This presents a unique chance to build in a vibrant, evolving Los Angeles neighborhood. The property's size and zoning make it ideal for a variety of residential projects, catering to the growing demand for housing in this dynamic area. The high traffic volume on W. Pico Blvd ensures excellent visibility and accessibility.

Highlights

  • Approved for a 75-unit, 5-story multifamily development.
  • High-traffic location at W. Pico Blvd. and S. Normandie Ave.
  • Excellent freeway access via I-10 and I-110.

Property Details for 1228 Normandie Ave

Property type
Land
Lot Size (sq. ft)
17,729 SF

Location Insight

City
Los Angeles
County
Los Angeles
State
California
Latitude
34.048165919873
Longitude
-118.30001180391
1228 Normandie Ave, Los Angeles, California

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1228 Normandie Ave
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