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$1,600,000
Est. payment /mo
6,851 Sqft Lot
UPDATED:
12/19/2024 06:01 AM
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 24470775
HOA Y/N No
Lot Size 6,851 Sqft
Property Description
We are pleased to present a prime development opportunity at 1420 S Cochran Ave, Los Angeles, CA.This project is nearly ready for construction, with plans that are close to approval and on the verge of becoming Ready to Issue (RTI). The old structure on the lot has already been demolished, enabling an expedited start date for construction.The plans include the development of 13 apartment units, totaling 19,058 square feet of gross building area. The proposed design features 2 one-bedroom/one-bath units, 8 two-bedroom/two-bath units, and 3 three-bedroom/three-bath units, with two apartments designated for very low-income tenants.Situated in the Mid-City neighborhood of Los Angeles, 1420 S Cochran Ave benefits from an average household income of nearly $117,000 within a 1-mile radius, highlighting its attractiveness to higher-earning renters.This central location is surrounded by a diverse array of restaurants, nightlife, and shopping options. It is just a short drive from popular attractions such as LACMA, The Grove, and The Farmers Market. The area is also rated as "Very Walkable" by Walk Score, and easy access to the 10 Freeway makes commuting around Los Angeles convenient.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LARD1.5
Interior
Fireplace No
Exterior
View Y/N No
View None
Building
New Construction No
Others
Senior Community No
Tax ID 5070012008
Special Listing Condition Standard
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Listed by Filip Niculete • Marcus & Millichap