1200 MAGNOLIA Avenue, Los Angeles, CA 90006

About this property

This 9,142 SF lot is situated on the corner of Magnolia Ave and W 12th St. with alley access. The site will be delivered with Ready to Issue Permits (RTI) for a 21-unit apartment complex with a mix of 18 1+1s, two (2) of which are Extremely Low Income (ELI), and three (3) 2+2s. This lot is located in an opportunity zone allowing for tax benefits with LAR3zoning.This lot is in a highly sought-after redevelopment area in Koreatown, Los Angeles, an up-and-coming area for multifamily living and redevelopment opportunities. Koreatown is an ideal Los Angeles area, accessible to endless amenities, public transportation, including the Subway, and is just miles from a densely populated, amenity-rich downtown area. This Ready to Invest (RTI) Site with a high quality and efficient development design, and in an opportunity zone with benefits available, is a rare find in Los Angeles.

Listing description from the February 2023 sale, as reported to CRMLS.

Sale history

$1,500,000

Sold February 2023 · listed $1,575,000, orig. $1,995,000, on market June 2022 · MLS #22161349 · Source: CRMLS

Listing Agent: David Kaufman · Listing Office: David Ballin Kaufman · Contact: 310-877-8600 · Bought with: David Kaufman · David Ballin Kaufman

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