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Listed price in listed location currency (USD).
$2,590,000

000

MLS® PW25174973

  • Key Facts
  • Description
  • Map

Key Facts

Type Other
Levels Land
Size -
Garage No
Taxes 
Days Active 183
Lot Size 0.3992 acres
Approx. Age 
MLS® Number PW25174973

Property Address: 249 S Avenue 54, Los Angeles, CA, 90042

Average square foot calculated using Size range provided by listing agent.

Description

12 Unit RTI project with alley access. Located in the vibrant Highland Park community of Los Angeles, 249 S Avenue 54. This offers a rare development opportunity with RTI (Ready-To-Issue) permits in place. The existing property features three separate bungalow homes with alley access. NO RELOCATION, THE PROPERTY IS DELIVERED FULLY VACANT. The approved plans allow for four new construction duplex structures and two detached ADUs. Upon CofO, the new owner will be able to capture six (6) additional ADUs by right. Recent code updates allow for 8 ADUs bringing the unit count to 16 total. The new project will feature (8) 5B/5B units and (8) 2B/2B ADUS, each thoughtfully designed to meet the needs of modern urban living. The building will encompass approximately 24, 210 square feet on a 17, 882 square foot lot, designed with contemporary finishes, energy-efficient features, a full sprinkler system, and full compliance with the latest seismic and building codes. Situated just minutes from Downtown Los Angeles, tucked in between Griffith Obervatory and the 110 Parkway, the property benefits from a strong demand for rental housing, making it ideal for families or co-living operations. The estimated annual NOI is approximately $768, 903. Avenue 54 offers an outstanding opportunity to invest in a high-demand, centrally located project ready for immediate development and long-term success.
MLS® NumberPW25174973
Laundry Level
Central VacNo
FireplaceNo
Acreage0.3992
Exterior
GarageNo
Approx. Age
Basement
Driveway
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Sep 9, 2025List Date
$2,590,000List Price
  • Commute

Commute

Starting Address
Destination Address
249 S Avenue 54, Los Angeles, CA

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