2250-54 W 14th St

2250-54 W 14th St, Los Angeles CA 90006

OFFERING PRICE: $1,800,000

MVP Commercial Investment Real Estate is pleased to present an exclusive Development Opportunity in the Pico-Union area. These two adjacent lots are located at 2250 W 14th Street and 2254 W 14th Street and have a combined total lot size of approximately 15,000 Square Feet zoned R-3.

Currently, there is a Triplex on one parcel made up of three (3) two bedroom/one bath units that was built in 1959. The other parcel currently consists of a single family residence that is made up of four bedrooms/one bath that was built in 1890.

At $120 per Lot Square Foot along with the relocation costs of only 3 out of the 4 tenants, these parcels represent a great opportunity for a developer to build approximately 18 apartment or condo units in the a very dense rental pocket of the West Pico-Union District of Los Angeles.

Location:
The property is located in the city of Los Angeles, north of the 10 Freeway and east of the 110 Freeway. Located just South of Pico Blvd in between Magnolia Ave and Orchard Ave, the location of the property allows for tenants to live in a desirable pocket adjacent to Downtown Los Angeles providing the convenience of living just a few minutes from entertainment venues, restaurants, LA Live, Downtown Los Angeles and multiple Los Angeles freeways.

INVESTMENT HIGHLIGHTS

  • Priced to Sell at $120 per Lot Square Foot
  • Potential to Build Up to 18 Units by right
  • Side by Side Parcels Totaling 15,000 SF Zoned R-3
  • Extremely Attractive Cost per Lot Square Foot
  • Single Family Residence and Triplex Currently Occupying Parcels

LOCATION HIGHLIGHTS

  • The Subject Property is a Walker’s Paradise as it scored a 90 on www.walkscore.com
  • Prime Pico-Union Location
  • High Rental Demand Area
  • Few minutes from entertainment venues, restaurants, LA Live, the Wilshire/Western Metro Station, Downtown Los Angeles and Multiple Los Angeles freeways
  • Highly Sought after Investment Location for Local and Foreign Investors

MVP Commercial Investment Real Estate does not guarantee the accuracy of square footage, lot size or other information concerning the condition or features of the property provided by the seller or obtained from public records or other sources and the buyer is advised to independently verify the accuracy of that information through personal inspection with appropriate licensed professionals. If your home is currently listed with another broker, this is not intended to solicit that listing. CalBRE 01816119, 01483131.