MLS® ID: 19-445862
Los Angeles, California, 90005 $1,195,000
Build an Apartment Building or Condos. Pristine asset located on a lush tree-lined residential street surrounded by multi-million dollar luxury complexes.This vacant parcel of land is zoned R3 and is located at the corner of Lorraine Boulevard and West 8th street in the Mid-Wilshire Sub market of Los Angeles. The area's proximity to museums, commercial, dining, and entertainment establishments of Wilshire Boulevard, The Grove shopping complex, Hancock Park, Beverly Grove, and Korea town combined with the neighborhoods high average incomes command some of the highest rents in Los Angeles. The area's prestigious location, strong employment base, local attractions, and easy access to transportation makes this an ideal investment for developers and private investors. These factors, coupled with limited supply additions, have helped keep vacancies low, and this area is a popular target for institutional capital and private investments.