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5120 W Washington Blvd, Los Angeles, CA 90016
$3,750,000
5120 W Washington Blvd, Los Angeles, CA 90016View this property at 5120 W Washington Blvd, Los Angeles, CA 90016
5120 W Washington BlvdLos AngelesCA90016
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Property Description
$530,000 Price Reduction! 100% Vacant! Priced at $164/sf on the land, $358/sf on the building! Renovate the existing ~34 units or build 140+ units! We are pleased to present an Opportunity Zone project consisting of three (3) adjacent parcels, totaling 23,756sf of Commercial land, with existing improvements consisting of ~34 units with 10,885sf of building. Currently 100% vacant, the property had been previously zoned for a board and care home. As a development site, by utilizing 100% affordable housing incentives, there is potential for a 140+ unit multi-family development to be allowed on the property. As a value-add play, an investor may have the ability to convert the existing ~34 units into apartments or continue the use as a board and care facility. As an apartment building, there may be potential to add numerous ADU's in the existing garages or large common kitchen area. With its close proximity to West Adams and Culver City, the property is well positioned for any type of investor to take advantage of continued appreciation for years to come. Buyer shall complete their own due diligence to determine what the current legal use allowed is for the property.
Full Property Details
Full Property Details for 5120 W Washington Blvd
General
- Sold For: $3,750,000
- Status: Closed
- Type: Lots/Land
- MLS ID: 23-294549
- Added to Site: 295 day(s) ago
Location
- Area: Mid Los Angeles
- County: Los Angeles
- Driving Directions: Google Maps: 5120 W Washington Blvd. Los Angeles, CA 90016
Lot Features
- Property View: City
- Lot Size (Acres): 0.5454
- Lot Size: 23756
- Lot Size Source: Other
- Zoning: LAC2
Disclosures and Reports
- Disclosures/Reports: As Is
- APN: 5062-006-026
Listed and Sold by Kidder Mathews of California, Inc., Casey Lins
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Schools
Schools serving 5120 W Washington Blvd
School District:Los Angeles Unified School District
Rating | Name | Grades | Distance |
---|---|---|---|
2611 S Orange Dr, Los Angeles, CA 90016 | K-5 | 0.6 mi | |
4066 W Johnnie Cochran Vista, Los Angeles, CA 90019 | 6-8 | 1.4 mi | |
4650 W Olympic Blvd, Los Angeles, CA 90019 | 9-12 | 1.5 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 5120 W Washington Blvd
Date
Details
Price
Change
Source
3/01/2024
Sold
$3,750,000
-3.72%
MLS
11/06/2023
Price Reduced
$3,895,000
-11.98%
MLS
7/26/2023
Listed
$4,425,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
5120 W Washington Blvd, Los Angeles, CA 90016 (MLS# 23-294549) is a Lots/Land property that was sold at $3,750,000 on March 01, 2024. Want to learn more about 5120 W Washington Blvd? Do you have questions about finding other Lots/Land real estate for sale in Los Angeles? You can browse all Los Angeles real estate or contact a Coldwell Banker agent to request more information.