5426 Melrose Avenue , Los Angeles, CA 90038
Los Angeles, CA 90038
Description
Prime Commercial Property For Sale - 10,124 Sq. Ft. Contiguous Land!The Phillips Group is pleased to offer this incredible redevelopment corner site with alley access made up of two parcels(APN 5523-025-009 & 012) totaling approximately 10,124 SF (0.23 Acres) of land and 7,000 SF of existing vacantstructures. Properties are located on Melrose Avenue in Los Angeles, CA just across the street from the ''Melrose Gate'' of the famed Paramount Pictures Studio Lot. The property lays between chic Larchmont Village and bustling Hollywoodneighborhoods. A short drive to the Southwest will land you at the Wilshire Private Country Club or the Los Angeles Tennis Club and a similar distance to the Northeast will take you to the 101 FWY entrance and intersection of Santa Monica Blvd. and Western Ave. The redevelopment opportunities are abundant with the existing C2-1 zoning, which allows a variety of Commercial uses including Office, Hotel, Clinics, Retail w-Limited Manufacturing, Broadcasting Studios, Restaurants and more at 1.5:1 FAR. C2-1 zoning also allows residential projects via R4 zoning (base density is 400 SF of land/dwelling unit at 3:1 FAR).
Details
| Mls | P1-18666 |
|---|---|
| Listing Type | For Sale |
| Style | Mixed Use |
| Subtype | Resale |
| Status | Active |
| Days On Site | 129 |
| Listing Provided By | Keller Williams Realty (626) 204-3300 | Roger Phillips |
Features
| Sq Feet | 7,000 |
|---|---|
| Acreage | 0.23 |
Market Activity 90038
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Learn More About This Property
| State | CA |
|---|---|
| County | Other |
| City | Los Angeles |
| Zip Code | 90038 |
| Area | C20 Hollywood |
| Listing VS Median (in 90038) | |
Price: $5,500,000 low | high Med: $999,000 SqFt: 7,000 low | high Med: 814 $ / SqFt: $786 low | high Med: $1,227 On Site: 129 low | high Med: 21.500000 | |