Description
Seize a rare and extraordinary opportunity to acquire and redevelop a three-lot assemblage spanning 22,253 square feet in the highly sought-after Greater-Wilshire neighborhood of Los Angeles. This property, available for the first time in over 50 years, includes 4718, 4720, and 4726 Oakwood Ave. The assemblage features two existing single-family residences: one with 2 bedrooms, 1 bathroom, and 1,065 square feet of living space, and the other with 3 bedrooms, 2 bathrooms, with 2,052 square feet of living space. The center lot is currently used as a driveway. Zoned LAR3 and located in TOC Tier 3, this prime location offers developers the potential to build up to 48 units with a TOC density bonus or up to 60 units, including 12 ADUs, with AB-2221(includes 12 ADUs) with a building envelope of 83,359 square feet. This is a once-in-a-generation chance to transform and maximize the value of a prime real estate asset in one of LAs most desirable areas.
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0BEDS
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0.51ACRES
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0BATHS
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01/2 BATHS
School Ratings & Info
Description
Seize a rare and extraordinary opportunity to acquire and redevelop a three-lot assemblage spanning 22,253 square feet in the highly sought-after Greater-Wilshire neighborhood of Los Angeles. This property, available for the first time in over 50 years, includes 4718, 4720, and 4726 Oakwood Ave. The assemblage features two existing single-family residences: one with 2 bedrooms, 1 bathroom, and 1,065 square feet of living space, and the other with 3 bedrooms, 2 bathrooms, with 2,052 square feet of living space. The center lot is currently used as a driveway. Zoned LAR3 and located in TOC Tier 3, this prime location offers developers the potential to build up to 48 units with a TOC density bonus or up to 60 units, including 12 ADUs, with AB-2221(includes 12 ADUs) with a building envelope of 83,359 square feet. This is a once-in-a-generation chance to transform and maximize the value of a prime real estate asset in one of LAs most desirable areas.
Based on information from California Regional Multiple Listing Service, Inc. as of 2024-09-18T23:30:17.053. 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 Realty ONE Group Empire. Licensed in the State of California, USA.