3520 W 5th Street 5502021007
Los Angeles, CA, 90020
$2,295,000
Beds
0 Baths
SqFt
0.24 Acres
Add
3 or More Options – Option 1 – Hold as conventional rental and add 2 ADUs; Option 2 – Develop-Build up to 50 potential units with AB 1287 or 26 units By-Rightbased on R4-2 zoning, Tier 3 TOC Zone. Density Bonus added. Opportunity Zone. (Independently verify with City Planning and/or other planning professionals) (PropertyReport available on request) Option 3 – Hold as conventional rental and develop later. ADU concepts based on a Consultant Schematic. ADU units and associated rents areprojected. The rather conventional 50s exterior belies the interior vintage style. Unit interiors average just under 1500 SF. Most units retain vintage design touches withupdated modern amenities. More like homes than apartments, the units give the sense of being in a charming Hancock Park home. A truly, one-of-a kind building. Oh, anddid I mention it’s smack dab in the middle of the Korea Town scene. Short distance to the iconic Chapman Plaza and public transportation. WalkScore.com: 95. Severalexterior virtual pictures including the main photo showing many color options have been added to the photos along with the current interior & exterior property photos. Clickon video links to see drone view. Gross income includes parking, laundry and other income in addition to projected rents for the possible addition of ADUs.
LISTING AGENT: Wes Wellman
LISTING BROKERAGE: Wellman Realty Co.
3520 W 5th Street 5502021007
Los Angeles, CA

Property Details

Price:
$2,295,000
MLS #:
24444893
Status:
Active
Baths:
0
Address:
3520 W 5th Street 5502021007
Type:
Land
Neighborhood:
c17midwilshire
City:
Los Angeles
Listed Date:
Sep 23, 2024
State:
CA
ZIP:
90020
Lot Size:
10,587 sqft / 0.24 acres (approx)
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The Agency fully supports the Equal Housing Opportunity laws. The Agency IP Holdco, LLC and its parents, affiliates, subsidiaries, franchisees of its affiliates, and network partners make no representations, warranties, or guaranties as to the accuracy of the information contained herein, including square footage, lot size or other information concerning the condition, suitability or features of the property. All material is intended for informational purposes only and has been obtained from public records, MLS, or other sources believed to be reliable, but not verified. All prospective buyers should conduct a careful, independent investigation of the information and property, and consult with appropriate professionals, such as appraisers, architects, civil engineers, etc. CalDRE #01904054

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