Jessie Espinosa - DRE#01912741
(209) 652-8112jessie@espinosa.org
Jessie Espinosa | Century 21 Select Real Estate, Turlock
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    • Jessie Espinosa - DRE#01912741(209) 652-8112
      jessie@espinosa.org
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    • 1351 Geer Road, Ste. 103
      Turlock, CA 95380

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    $3,000,000
    For Sale

    Address Not Shown

    Los Angeles, CA 90057
    0.27 acres | #26646443
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    Listing OfficeCB Richard Ellis, Inc.
    Address Not Shown
    3 photos
    Type:Purchase
    Structure:Land
    Zone:Residential

    Description

    The subject site at 521-525 S. Carondelet St. is a vacant rectangular 2-lot development site located in the Mid-Wilshire/Lafayette Park area on the eastern edge of Koreatown. Zoning designation is LAR4-1 with a Tier 3 TOC status for increased density, FAR and reduced parking. The immediate area is one of the most investment rich locations in all of Los Angeles with new developments like the 644-unit Kurve on Wilshire (completed by Greystar in 2021) and historic trophy apartments like the Wilshire Royale, the Asbury, the Bryson and The Town House dotting the skyline. The iconic Art Deco Bullocks Wilshire historic-cultural monument is just a few blocks away from 521 S. Carondelet, purchased and repurposed by Southwestern Law School in 1994. CoStar estimates that multifamily vacancy in Koreatown is currently elevated, reflecting the delivery of nearly 3,850 new units over the past 24 months. This recent supply influx has temporarily increased availability; however, the submarket rebounded quickly after the pandemic, with rents climbing consistently since early 2021. Koreatown remains more affordable than surrounding areas such as Hollywood, Hancock Park, and Silver Lake and benefits from Mid-Wilshire's highly walkable environment and strong dining and nightlife appeal.

    • Property Details
        • CountyLos Angeles
        • Original List Price$3,000,000
        • Cost3000000.0
        • Property TypePurchase
        • MLS #26646443
        • MLS #26646443
        • Acres0.2715
        • Property SubtypeLand

    Location

    Legal

    The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

    Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

    Last Updated: Today at 1:47 AM. Source: CRMLS

    Provided By
    Listing Agent: Adam Peterson (#CLW-X86252)
    Listing Office: CB Richard Ellis, Inc. (#CLW-X74295)

    Jessie Espinosa | Century 21 Select Real Estate, TurlockReal Estate Group
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