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1200 Magnolia Avenue

Los Angeles (City), CA 90006
  • $1,775,000
  • STATUS: Pending
  • ON SITE: 173 Days
  • ID#: 22161349
Pending
$1,775,000
  • 0
    BEDS
  • 0.21
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Vacant Land / Lots
County:

School Ratings & Info

Listing Agent(s): David Kaufman of David Ballin Kaufman (310-877-8600)


Description

This 9,142 SF lot is situated on the corner of Magnolia Ave and W 12th St. with alley access. The site will be delivered with Ready to Issue Permits (RTI) for a 21-unit apartment complex with a mix of 18 1+1s, two (2) of which are Extremely Low Income (ELI), and three (3) 2+2s. This lot is located in an opportunity zone allowing for tax benefits with LAR3zoning.This lot is in a highly sought-after redevelopment area in Koreatown, Los Angeles, an up-and-coming area for multifamily living and redevelopment opportunities. Koreatown is an ideal Los Angeles area, accessible to endless amenities, public transportation, including the Subway, and is just miles from a densely populated, amenity-rich downtown area. This Ready to Invest (RTI) Site with a high quality and efficient development design, and in an opportunity zone with benefits available, is a rare find in Los Angeles.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-12-08T00:28:12.393. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Romero Home Team | eXp Realty. Licensed in the State of California, USA.
www.romerohometeam.com/homes/129980545
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1200 Magnolia Avenue Los Angeles (City), CA 90006

  • Price: $1,775,000
  • Status: Pending
  • On Site: 173 Days
  • ID#: 22161349
0
Beds
0
Baths
0
½ Baths
0.21
Acres
Neighborhood:
C17 - Mid-Wilshire
County:
Los Angeles
Area:
C17 - Mid-Wilshire
Property Description
This 9,142 SF lot is situated on the corner of Magnolia Ave and W 12th St. with alley access. The site will be delivered with Ready to Issue Permits (RTI) for a 21-unit apartment complex with a mix of 18 1+1s, two (2) of which are Extremely Low Income (ELI), and three (3) 2+2s. This lot is located in an opportunity zone allowing for tax benefits with LAR3zoning.This lot is in a highly sought-after redevelopment area in Koreatown, Los Angeles, an up-and-coming area for multifamily living and redevelopment opportunities. Koreatown is an ideal Los Angeles area, accessible to endless amenities, public transportation, including the Subway, and is just miles from a densely populated, amenity-rich downtown area. This Ready to Invest (RTI) Site with a high quality and efficient development design, and in an opportunity zone with benefits available, is a rare find in Los Angeles.
Exterior Features

Parking Total 0 View City Lights View YN Yes

Property Features

Association YN No Listing Agreement Exclusive Right To Sell Listing Service Full Service New Construction YN No Senior Community YN No Special Listing Conditions Standard Zoning Lar3



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-12-08T00:28:12.393. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Romero Home Team | eXp Realty. Licensed in the State of California, USA.
 
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Romero Home Team | eXp Realty
865 Aerovista Pl, Suite 120
San Luis Obispo CA, 93401
Listing Agent(s): David Kaufman of David Ballin Kaufman (310-877-8600)