Affordable Apartment Development
1050 S Norton Ave Los Angeles, CA 90019
1050 S Norton Ave, Los Angeles, CA, 90019
$4,200,000
For Sale
$4,200,000
LAND - Los Angeles, CA
Property Size42,908 SF
Lot Size0.43 Acres
Price / SF$97.88
Days on Market47
Property Features for 1050 S Norton Ave
General Information
- Property type
- Land
- Property subtype
- Other
- Zoning
- R3-1-O-HPOZ
- Standard status
- Active
- APN
- 5081-010-009
- Lot size
- 0.43 Acres
Listing Agency
Keller Williams Beverly Hills
(310) 432-6400
439 N Canon Dr. Suite 300, Beverly HIlls, CA
Listed by
Jordan Petito · License #02023714
(310) 497-4362
Added: Jun 2 Checked: Jul 18 at 3:06 am
MLS# 26842135
Listing URL
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Investment Insights
Based on property information with market context.
This offering includes 1050 and 1056 S Norton Avenue, a combined development site proposed for a 5-story, Type III-A residential apartment building with 102 total units. The project is presented as a 100% affordable housing development and would deliver approximately 33,833 SF of rentable area and approximately 42,908 SF of proposed building area. The entitlement pathway references Executive Directive 1 and AB 1763 and AB 2345, including unlimited density and zero parking within proximity to a major transit stop. Planning materials also reference development incentives such as additional height allowances and FAR increase, along with off-menu incentives related to open space and tree reduction subject to approval.
The site is positioned on an approximately 18,533 SF lot in a central Los Angeles infill location within the Mid-Wilshire / Olympic Park submarket. The property sits within the Country Club Park HPOZ and is described as being near Mid-Wilshire, Koreatown, Hancock Park, and the broader Wilshire corridor, within an established residential neighborhood.
For developers seeking a scale affordable housing program, this parcel supports a 102-unit apartment concept under the stated ED1 framework, including a zero-parking approach. Zoning is identified as R3-1-O-HPOZ, and the plan’s incentive-driven structure is designed to align with an entitlement process that can accommodate density and design flexibility subject to approvals.
The site is positioned on an approximately 18,533 SF lot in a central Los Angeles infill location within the Mid-Wilshire / Olympic Park submarket. The property sits within the Country Club Park HPOZ and is described as being near Mid-Wilshire, Koreatown, Hancock Park, and the broader Wilshire corridor, within an established residential neighborhood.
For developers seeking a scale affordable housing program, this parcel supports a 102-unit apartment concept under the stated ED1 framework, including a zero-parking approach. Zoning is identified as R3-1-O-HPOZ, and the plan’s incentive-driven structure is designed to align with an entitlement process that can accommodate density and design flexibility subject to approvals.
Key Highlights
- 102‑unit, 100% affordable apartment development site at 1050 & 1056 S Norton Avenue in Los Angeles’ Mid‑Wilshire / Olympic Park submarket
- Approximately 18,533 SF lot for a proposed 5‑story Type III‑A residential apartment building
- Proposed project totals approx. 33,833 SF of rentable area and approx. 42,908 SF of proposed building area
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Residential land & home ...
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FAQs
What type of property is this?
Residential land & home lot - Infill residential development site for a 102-unit, 100% affordable apartment project.
Where is this residential land & home lot located?
The property is located at 1050 S Norton Ave Los Angeles, CA.
What is the asking price?
The asking price for this property is $4,200,000.
What are key features of this property?
This property features: 102‑unit, 100% affordable apartment development site at 1050 & 1056 S Norton Avenue in Los Angeles’ Mid‑Wilshire / Olympic Park submarket; Approximately 18,533 SF lot for a proposed 5‑story Type III‑A residential apartment building; Proposed project totals approx. 33,833 SF of rentable area and approx. 42,908 SF of proposed building area