Property Details
About this Property
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 i
MLS Listing Information
MLS #
CRPW25174973
MLS Source
California Regional MLS
Days on Site
9
Lots & Land Information
Fencing
Other
Parking, School, and Other Information
HOA Fee
$0
Zoning
D0, D2, D3, BY, FY, LN, LV
Neighborhood: Around This Home
Neighborhood: Local Demographics
Nearby Homes for Sale
249 S Avenue 54 is in Los Angeles, CA 90042. This Land is currently priced at $2,995,000. This address can also be written as 249 S Avenue 54, Los Angeles, CA 90042.
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This listing information is up-to-date as of September 09, 2025. For the most current information, please contact Martin Fish, (310) 905-4834
