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$3,995,000

We are pleased to exclusively present a 1.27+/- Acre Development Opportunity on E. Olympic Boulevard in East Los Angeles. The property offers a rare combination of scale, flexible land use, and prominent 5 (Santa Ana) Freeway and Olympic Boulevard frontage, creating varied opportunities for Commercial, Multifamily, and Mixed-Use Development. Offered at around $72 per Square Foot of Land, the vacant, level site is located within the Metro Area Plan's East Los Angeles Community Standards District, benefiting from the County's updated development framework adopted in 2024. The property mainly carries a General Commercial (C-3) land use / zoning designation, which permits commercial development up to 1.0 FAR and residential or mixed-use development at 2050 dwelling units per net acre, with additional density potentially available through applicable state density bonus programs. However, the property is surrounded by Major Commercial (C-M) land use designation land to the immediate south, east and west, which permits far higher density of 30-150 dwelling units per net acre and a FAR of 3.0. Around 10% of the square footage is zoned R-3 (Residential). The property occupies a high-visibility corridor along E. Olympic Blvd., with frontage extending the whole block from Hicks Ave. to Ditman Ave. The site is immediately adjacent to the 5 Freeway, at the Ditman Ave. eastbound onramp and offramp, and is very visible to cars on the freeway and Olympic Blvd. On average, approximately 237,000 to 244,000 vehicles per day pass the site on the 5 Freeway, providing exceptional exposure for future residential and / or commercial developments on site. Consider a broad range of retail, restaurant, grocery, medical, and service-oriented uses, some available By Right and some requiring a Conditional Use Permit. The site's substantial frontage, freeway visibility, and surrounding population makes it particularly well positioned for a prominent Retail or Mixed-Use Project. Or consider the Affordable Housing route and maximize density, helped by the Bus network, with a stop currently just in front of the property. Bring your ideas and make them a reality on this blank canvas! Listing includes two APNs: 5242-006-018 & 5242-006-005.

ACTIVE Status

3965 E Olympic Blvd., East Los Angeles

Courtesy of Keller Williams Beverly Hills, Dario Svidler - CA DRE#01884474

$665,000

Set on a tree-lined block in the heart of Melrose Hill, this thoughtfully updated 1922 Spanish-style condo honors its historic character while embodying contemporary design. Enter through a private stairway into this upper-level two-bedroom residence. A landing area outside the unit's front door allows for a graceful transition home. Once inside, a formal dining room opens to the adjacent living room, where original period details like the Batchelder tile fireplace, built-in bookshelves, and arched doorways are complemented by newly added elements of wainscoting, crown molding, brass light fixtures, and wide-planked hardwood floors. Peekaboo Downtown L.A. views orient you on your quiet block of our iconic city. A spacious powder room sits just off the living room. Beyond this main living space are the kitchen and grand hallway leading to the bedrooms and laundry, with a color-drenched primary positioned at the end of the hall. Across from the guest room is the unit's full bath, which services both bedrooms and features a tub. A laundry room serves as the back entrance, where stairs lead to the unit's driveway and carport. Parking for two vehicles per unit is permitted. This fourplex is a Tenancy-in-Common ownership structure, well established and managed since its inception in 2019. Major improvements to the building and unit include new electrical, sewer line, plumbing, and roof. Additionally, the unit has a newer washer and dryer, water heater, kitchen appliances, and HVAC mini-splits in each bedroom and the main living space. Melrose Hill is an exciting, emerging neighborhood, quickly becoming a destination in and of itself for food, art, and culture. Blocks away are iconic neighborhood favorites like Cafe Telegrama, Bar Etoile, tra, Little Fish, LA Grocery & Cafe, and FOLM Studio. With easy access to Larchmont, the Eastside, Hollywood, Koreatown, and Downtown L.A., this is a rare opportunity to own a character-rich home, updated to perfection, in one of the coolest neighborhoods of Central Los Angeles.

2 Beds ⋅ 2 Baths ⋅ ACTIVE Status ⋅ 739-743 Manhattan Place TIC BLDG.

743 N Manhattan Pl, East Los Angeles

Courtesy of Carolwood Estates, Marlee Sherwin - CA DRE#02164197

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