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362 S Commonwealth Ave 0.21 Acres of Residential Land Offered at $1,580,000 in Los Angeles, CA 90020
Investment Highlights
- Prime Koreatown location near transit, shops, and restaurants
- Zoned for multifamily or mixed-use development (Buyer to verify)
- High rental demand area ideal for long-term investment
Executive Summary
Seller prefers cash or short contingency offers.
Flat lot ideal for multifamily development.
Buyer to verify zoning and development potential with city.
No existing structures
Bring your developers. Buyer to conduct own due diligence.
Seller may consider reasonable offers with quick close.
Property Facts
| Price | $1,580,000 | Property Subtype | Residential |
| Sale Type | Investment | Proposed Use | Apartment Units - Condo |
| Sale Condition | Redevelopment Project | Total Lot Size | 0.21 AC |
| No. Lots | 1 | Opportunity Zone |
Yes
|
| Property Type | Land | ||
| Zoning | R4-2 - “R4” Multiple Dwelling Zone | ||
| Price | $1,580,000 |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Apartment Units - Condo |
| Total Lot Size | 0.21 AC |
| Opportunity Zone |
Yes |
| Zoning | R4-2 - “R4” Multiple Dwelling Zone |
1 Lot Available
Lot
| Price | $1,580,000 | Lot Size | 0.21 AC |
| Price Per AC | $7,368,062.71 |
| Price | $1,580,000 |
| Price Per AC | $7,368,062.71 |
| Lot Size | 0.21 AC |
Description
Rare R4-2 zoned vacant lot in prime Koreatown! Approx. 9341 sq ft. flat land for multifamily, condos, or Build-To-Rent (BTR) projects. Located near Wilshire Blvd., Downtown LA, and major transit (Fwy 10, 101, 110). Recent developments in the area include apartments, condos and adaptive reuse projects. Street frontage on Commonwealth Ave, with nearby utilities. Seller and Brokers do not guarantee the accuracy of square footage, zoning, unit potential, or development suitability. Buyer and Buyer's agent are advised to independently verify all information with appropriate professionals, public records, and city departments before proceeding. One of the seller is active CA Real Estate Licensee.
Property Taxes
| Parcel Number | 5501-022-020 | Improvements Assessment | $0 |
| Land Assessment | $1,911,909 | Total Assessment | $1,911,909 |
Property Taxes
Presented by
362 S Commonwealth Ave
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