240 Normandie AveLos Angeles, CA 90004
- Land
Property Details for 240 Normandie Ave
- Property type
- Land
Description
This exceptional 9,001 square foot R4-1 zoned lot in Los Angeles' Wilshire Center presents a unique development opportunity. Located at 240 Normandie Ave, 90004, this property enjoys a WalkScore of 92, placing it in a vibrant, walkable neighborhood with abundant nearby amenities, including stores, restaurants, and public transportation. Its central location offers easy access to Hollywood, Downtown LA, and Silver Lake, with convenient freeway connections. The existing three-unit building will be delivered vacant, eliminating the complexities of tenant relocation or eviction. Importantly, this site is designated ED-1 eligible, unlocking significant incentives for affordable housing developers. These incentives include unlimited density and height bonuses, zero parking requirements, a 100% increase in the base FAR ratio, and a streamlined approval process. Furthermore, the property's location within an Opportunity Zone provides potential for substantial tax advantages. This is a truly exceptional opportunity for developers seeking a prime location and significant development incentives. The asking price is $2,800,000, and the APN is 5518007013. Don't miss this chance to acquire a highly desirable development site in a thriving Los Angeles neighborhood.
Location Insight
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Latitude
- 34.07
- Longitude
- -118.3
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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