Affordable Apartment Development
For Sale
$4,200,000
1050 S Norton Avenue Los Angeles, Los Angeles, CA 90019
In-fill multifamily development site for a proposed 102-unit, 100% affordable apartment building with zero parking.
Property SizeContact for details
Days on Market123
Property Features for 1050 S Norton Avenue Los Angeles
General Information
Standard status
Active
Property subtype
Land
Zoning
R3-1-O-HPOZ
Site & Location
Neighborhood
Arlington Heights
Amenities
18533
0.4255
Plans
Listed By:
Demetri NewsonThompson
(909) 328-1567
Source:
Rmarealty
Added: Jun 26
Changed: Oct 25
Last Checked: Jun 27 at 9:23PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Demetri NewsonThompson
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Investment Insights
Based on property information with market context.
A combined development site offering 1050 & 1056 S Norton Avenue, positioned on an approximately 18,533 SF lot. The proposed project is a 5-story, Type III-A residential apartment building programmed for 102 total units on a 100% affordable basis, with plan references to approximately 33,833 SF of rentable area and approximately 42,908 SF of proposed building area.
The site is located in Los Angeles’ Mid-Wilshire / Olympic Park submarket within the Country Club Park HPOZ, in a central infill setting near the Mid-Wilshire, Koreatown, and Hancock Park areas and the greater Wilshire corridor. The development is described as being advanced under Executive Directive 1 pursuant to AB 1763 and AB 2345, which the plans state allows for unlimited density and zero parking within proximity to a major transit stop.
The project also references significant development incentives, including zero parking, additional height allowances, and FAR increase. Plans further note off-menu incentives for a 100% reduction in open space and tree reduction, subject to approval.
The site is located in Los Angeles’ Mid-Wilshire / Olympic Park submarket within the Country Club Park HPOZ, in a central infill setting near the Mid-Wilshire, Koreatown, and Hancock Park areas and the greater Wilshire corridor. The development is described as being advanced under Executive Directive 1 pursuant to AB 1763 and AB 2345, which the plans state allows for unlimited density and zero parking within proximity to a major transit stop.
The project also references significant development incentives, including zero parking, additional height allowances, and FAR increase. Plans further note off-menu incentives for a 100% reduction in open space and tree reduction, subject to approval.
Key Highlights
- Approximately 18,533 SF (0.4255‑acre) multifamily development site at 1050 & 1056 S Norton Avenue
- Proposed 5‑story Type III‑A residential apartment building with 102 total units
- Plans include approximately 33,833 SF of rentable area and approximately 42,908 SF of proposed building area
Property Analytics
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Location Intelligence
Trade Area within ½ mile
1,901
Businesses Nearby
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Business Placement
Demographics for 90019, CA
62,002
Population
26,203
Households
2.4
Avg Household Size
38
Median Age
39%
College-Educated
80%
High-School Grad
3.9 sq mi
ZIP Area
15,898
Density / Sq Mi
$71,395
Median Household Income
$40,316
Median Earnings
$1,782
Median Rent
$1,178,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - In-fill multifamily development site for a proposed 102-unit, 100% affordable apartment building with zero parking.
Where is this residential land & home lot located?
The property is located at 1050 S Norton Avenue Los Angeles 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: Approximately 18,533 SF (0.4255‑acre) multifamily development site at 1050 & 1056 S Norton Avenue; Proposed 5‑story Type III‑A residential apartment building with 102 total units; Plans include approximately 33,833 SF of rentable area and approximately 42,908 SF of proposed building area
