Active

5101 W Pico Blvd

Los Angeles CA, 90019

$11,300,000


$353.57 per sqft

Active

31,960 sqft

Land

5101-5125 W Pico Blvd is spanning the entire block between S Redondo Blvd and Meadowbrook Ave, this is a 31,960square foot development opportunity between Venice Blvd and S San Vincente Blvd in a prime Mid-Wilshire location. This development lot is zoned C4-1-O in a Tier 2 TOC. Thereare approved plans to build a 7-story, 107,754 SF building made up of 136 units and 12 ADU's.The plans call for 51 studios (393-590 SF), 75 one-bedrooms (394-628 SF), five two-bedrooms(835-1,097 SF), five three-bedrooms (1,057-1,099 SF) and 12 live-work units (544-1,449 SF withtwo and a half levels of parking.The site has alley access from S Redondo Blvd and Meadowbrook Ave, providing extra buildable square footage and options for parking ingress and egress. The current buildingconsists of 10 retail units on month-to-month gross leases with a total income of $381,753annually, allowing the developer the ability to collect income while obtaining permits.Mid-Wilshire is a neighborhood in the central region ofLos Angeles, California known for the Los Angeles CountyMuseum of Art, the Petersen Automotive Museum, and theMiracle Mile shopping district. The subject property boastsa high walk score of 92, a "walker's paradise" in a central LAlocation with convenient access to local restaurants, shopping,employment, transportation, and nightlife. The neighboring block on South La Brea Ave hosts a brand new Target andSprouts development, one mile east is the Midtown CrossingShopping Center, and one mile north is the iconic Miracle Mile shopping district, providing residents a convenient destination shopping experience. APNs 5070-007-012, 5070-007-013, 5070-007-029, 5070-007-030

24-351721

MLS ID

November 6, 2023

Listed

February 15, 2024

Updated

Map

5101 W Pico Blvd
Los Angeles CA, 90019

Exterior/Building Features

Lot Size

0.73 Acres

Other Property Details

Area Name

Beverly Center-Miracle Mile


Days on Market

80


Garage

No


View

No


View Description

None


County

Los Angeles


Pool

No


Zoning

LAC4

Listed by with Marcus & Millichap
Listing Contact: 310-909-5444 

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor RSR Rogers Stellini Ritt Group shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2024 Combined L.A./Westside MLS. All rights reserved.

Data last updated 2/15/2024

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