854 Normandie Ave Los Angeles, CA 90005

This exceptional Los Angeles property presents a unique opportunity for developers. Located at 854 S Normandie Avenue, Los Angeles, CA 90005, this 13,239 square foot lot (APN 5094-018-001) is zoned R4-2, allowing for significant density. Currently featuring two buildings with eight existing residential units, the property comes with approved plans ready for immediate issuance to construct a six-story, 46,073 square foot multifamily building. The approved plan includes 57 units – a mix of 13 studios, 21 one-bedrooms, and 23 two-bedrooms, with 11% designated as affordable units. The development also incorporates two levels of subterranean parking accommodating 55 vehicles. The modern design emphasizes natural light and includes balconies for many units, aligning with current market demand in Los Angeles. The asking price is $4,650,000 ($581,250 per unit). Funds are already in escrow to Ellis Act the existing eight units, streamlining the development process. This is a Tier 3 Transit Oriented Communities Ordinance compliant project. This property offers a compelling investment opportunity with significant upside potential in a desirable Los Angeles location.