$2,590,000

249 S Avenue 54, Los Angeles, CA 90042

Land
Built in ——
0.4acre lot
—— car garage
$——/sqft
Listed 7 months ago

Property Description

12 Unit RTI project with alley access. Located in the vibrant Highland Park community of Los Angeles, 249 S Avenue 54. This offers a rare development opportunity with RTI (Ready-To-Issue) permits in place. The existing property features three separate bungalow homes with alley access. NO RELOCATION, THE PROPERTY IS DELIVERED FULLY VACANT. The approved plans allow for four new construction duplex structures and two detached ADUs. Upon CofO, the new owner will be able to capture six (6) additional ADUs by right. Recent code updates allow for 8 ADUs bringing the unit count to 16 total. The new project will feature (8) 5B/5B units and (8) 2B/2B ADUS, each thoughtfully designed to meet the needs of modern urban living. The building will encompass approximately 24,210 square feet on a 17,882 square foot lot, designed with contemporary finishes, energy-efficient features, a full sprinkler system, and full compliance with the latest seismic and building codes. Situated just minutes from Downtown Los Angeles, tucked in between Griffith Obervatory and the 110 Parkway, the property benefits from a strong demand for rental housing, making it ideal for families or co-living operations. The estimated annual NOI is approximately $768,903. Avenue 54 offers an outstanding opportunity to invest in a high-demand, centrally located project ready for immediate development and long-term success.

Listing Status:: Active
Date Added:: August 4, 2025
Data Last Updated:: March 4, 2026 at 8:13PM
Listing Office:: Citivest Realty Services, Inc : 714-553-2001
Listing Agent:: Martin Fish : 310-905-4834
MLS ID:: PW25174973

HOA Amenities: 0.0
Originating MLS: California Regional MLS
County: Los Angeles

Zoning: 5468013025

Utilities: ElectricNatural Gas

Source: California Regional MLS

This listing courtesy of Martin Fish , Citivest Realty Services, Inc

Monthly Payment

$Est. Payment

Principal & Interest $
Property Taxes $
Home Insurance $
VA Funding Fee $

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Location

Schools Nearby

Bushnell Way Elementary

5507 Bushnell Way, Los Angeles, CA, 90042

Grades PK-5

0.40 miles away

Arroyo Seco Museum Science

4805 Sycamore Ter, Los Angeles, CA, 90042

Grades KG-8

0.53 miles away

Benjamin Franklin High School

820 N Avenue 54, Los Angeles, CA, 90042

Grades 9-12

0.81 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.