1120 Cypress Avenue, Los Angeles, CA 90065

About this commercial property

INVESTORS/DEVELOPERS: 3-Lot Development and Investment Opportunity A prime corner property with high visibility in Cypress Park featuring three side-by-side lots with LAR1.5 zoning. This is a unique opportunity for developers, investors, and business owners looking for multi-unit development potential or a turnkey investment with existing rental income. Key Highlights: - LAR1.5 zoning, ideal for small-lot subdivisions, multi-unit developments, or a custom-built community - Three contiguous lots providing a combined footprint for development or mixed-use opportunities - Income-producing property currently operating as a party supply store, flower shop, and retail space, with a long-term tenant on a month-to-month lease - Additional business space with one unit used for ice cream bar distribution, with equipment included and sold as-is - Recently upgraded unit featuring new stainless steel sinks, updated plumbing, industrial freezer, and fresh paint with $21,000 in recent improvements - Prime location minutes from Highland Park, Frogtown, Downtown LA, Chinatown, and major medical centers - Easy freeway access near I-5, I-110, and I-2, making it convenient for business operations and commuters - Rapidly growing neighborhood with strong demand for housing, retail, and mixed-use developments Whether you’re looking to redevelop, expand, or hold as an investment, this rare multi-lot opportunity in an appreciating area offers versatility and strong upside potential.

Listing description from the May 2025 sale, as reported to CRMLS.

Sale history

$820,000

Sold May 2025 · listed $882,000, on market February 2025 · MLS #OC25031819 · Source: CRMLS

Listing Agent: Dominique Allado · Listing Office: Keller Williams Realty Irvine · Contact: 949-861-8000 · Bought with: Dominique Allado · Keller Williams Realty Irvine

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