1216 Menlo Avenue, Los Angeles, CA 90006 - Berkshire Hathaway HomeServices California Properties
Phone949-212-2023
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1216 Menlo Avenue, Los Angeles, CA 90006

$6,500,000 Approx. USD 0 beds, 0 baths
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Listing Agent


Neema Ahadian | neema@marcusmillichap.com
Lic#: 01346750
Broker: Courtesy of Marcus & Millichap

Agent Remarks

We are pleased to present a development opportunity at 1216 Menlo Ave in the Pico-Union neighborhood of Los Angeles, strategically situated between W Pico Blvd and W Olympic Blvd. The lot totals 39,995 SF and is zoned R4-1VL in a Tier 4 TOC. The existing improvements compromise of three separate structures, totaling 22,386 SF, which will be delivered vacant at the close of escrow. The offering features Ready-To-Issue plans for a 100% affordable TOC project, featuring 127 units centered around the existing main school building, preserving it as a base for supportive housing services or community space. The unit mix includes 23 singles, 40one-bedrooms, 32 two-bedrooms, 32 three-bedrooms along with approximately 5,500 SF of space in a new standalone building for service amenities. Alternatively, the potential for unlimited density is achievable via AB 2345, alongside an expedited entitlement process through Executive Directive 1, should a 100% affordable housing project be pursued. A preliminary feasibility study for 277 units under an ED1 entitlement strategy is available (Contact Agents for Details).The offering represents a rare opportunity to acquire an institutional quality infill development project in close proximity to major employment hubs in DTLA, in close proximity to the Wilshire / Vermont Metro station and supporting bus lines, providing easy access to Koreatown, Westlake, Mid-City, Hollywood, and Downtown Los Angeles. The location is further buoyed by a high walk score of 91,making it an attractive prospect for developers looking to develop an institutional quality asset in a dynamic and rapidly evolving area, located in a qualified opportunity zone.

Listing Details

Property type: (Lots/Land)
Status: Active
MLS# 25503597
Price: $6,500,000
Beds: 0
Baths: 0
0.92 acres
Lot size: 0.9182
County: Los Angeles
Zoning: LAR4
MLS area: C17 - Mid-Wilshire

Last Updated: 2/27/2025

 Days On Market (DOM): 82

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This listing belongs to the C17 - Mid-Wilshire MLS area

Lat/Long: 34.048473, -118.290220.
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DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor. GET PRE-APPROVED The loan's interest rate will depend upon the specific characteristics of the loan transaction and credit profile up to the time of closing.

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