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3550 S Western Ave 0.94 Acres of Commercial Land Offered at $5,950,000 in Los Angeles, CA 90018
INVESTMENT HIGHLIGHTS
- UNENTITLED REDEVELOPMENT OPPORTUNITY - Commercial (retail, gym, school, etc.) or Residential (affordable housing, senior/assisted living, etc.)
- RARE ENTIRE BLOCK - corner parcel can also be delivered for $1.5M, which would complete the block
- COVERED LAND PLAY - Current income is approx. $19,000 per month gross - All tenants are MTM
- AS AN AFFORDABLE DEVELOPMENT - $20,169 per DOOR land cost - build 295 units on the primary site
- USC ADJACENT - located only 1 mile directly west of campus and next to a multititude of recent off-campus housing developments
- PRICE REDUCED - highly motivated seller
EXECUTIVE SUMMARY
Unentitled commercial or mid-rise affordable housing development opportunity near USC. Covered land play - all seven (7) tenants are month-to-month and are currently generating approximately $19,000 per month gross rental income. Redevelopment possibilities for a gym, school, senior/assisted living, affordable housing, etc. Architect analysis showed a maximum 295 unit count for a 5-story mid-rise build with type IIIB construction, resulting in a land cost per unit of $20,169.
The primary site for sale includes three (3) contiguous parcels totaling 40,769 SF of land zoned C2-2D-O-CPIO. The corner lot (contiguous with the primary site) is owned by a separate seller and can also be delivered for an asking price of $1,500,000. The corner lot would add an additional 5,857 SF of land, bringing the total size of the assemblage to over one (1) acre.
This site presents an increasingly rare opportunity to secure an entire block ripe for development within the inevitable path of USC's continual westward expansion. Call broker for more information.
The primary site for sale includes three (3) contiguous parcels totaling 40,769 SF of land zoned C2-2D-O-CPIO. The corner lot (contiguous with the primary site) is owned by a separate seller and can also be delivered for an asking price of $1,500,000. The corner lot would add an additional 5,857 SF of land, bringing the total size of the assemblage to over one (1) acre.
This site presents an increasingly rare opportunity to secure an entire block ripe for development within the inevitable path of USC's continual westward expansion. Call broker for more information.
DATA ROOM Click Here to Access
- Offering Memorandum
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER AC |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
PROPERTY FACTS
| Price | $5,950,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Commercial |
| Sale Condition | Redevelopment Project | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 0.94 AC |
| Zoning | C2-2D-O-CPIO | ||
| Price | $5,950,000 |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 0.94 AC |
| Zoning | C2-2D-O-CPIO |
1 LOT AVAILABLE
Lot
| Price | $5,950,000 | Lot Size | 0.94 AC |
| Price Per AC | $6,357,333.42 |
| Price | $5,950,000 |
| Price Per AC | $6,357,333.42 |
| Lot Size | 0.94 AC |
1 1
Walk Score®
Very Walkable (80)
Bike Score®
Very Bikeable (76)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $8,026,230 (2025) | |
| Land Assessment | $5,531,226 (2025) | Annual Taxes | ($1) |
| Improvements Assessment | $2,495,004 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$5,531,226 (2025)
Improvements Assessment
$2,495,004 (2025)
Total Assessment
$8,026,230 (2025)
Annual Taxes
($1)
Tax Year
2024
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3550 S Western Ave
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