Affordable Multifamily Development
For Sale
$4,200,000
1050 South Norton Avenue, Los Angeles, CA 90019
Entitled land for a proposed 102-unit, 100% affordable apartment building with an Executive Directive 1 pathway.
Property Size18,533 SF
Lot Size0.43 Acres
Price / SF$226.62
Days on Market76
Property Features for 1050 South Norton Avenue
General Information
Standard status
Active
Size
18,533 SF
Lot size
0.43 Acres
Property subtype
Land Lot
Zoning
R3-1-O-HPOZ
Additional Details
Multifamily Units
102
Amenities
No
Building Details
Stories
5
Tenancy
Multi
Listing Agency:
Keller Williams Beverly Hills
(310) 497-4362
Listed By:
Jordan Petito · License #02023714
(310) 497-4362
Source:
Compass
Added: May 26
Changed: Aug 8
Last Checked: Jul 15 at 8:51PM
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 Keller Williams Beverly Hills
Investment Insights
Based on property information with market context.
The property consists of a development site at 1050 & 1056 S Norton Avenue totaling approximately 18,533 SF. The project is proposed as a 5-story, Type III-A residential apartment building with 102 total units and an overall affordability mix that includes studio, one-bedroom, and two-bedroom apartments, plus a manager’s unit. The plans reference Executive Directive 1 as a 100% affordable housing pathway pursuant to AB 1763 and AB 2345, enabling unlimited density with zero parking within proximity to a major transit stop.
The site is positioned in Los Angeles’ Mid-Wilshire / Olympic Park submarket within the Country Club Park HPOZ and is described as a central infill location near Mid-Wilshire, Koreatown, Hancock Park, and the greater Wilshire corridor. The offering is supported by development incentives reflected in the plans, including zero parking, additional height allowances, and an FAR increase from 3:1 to approximately 3.46:1.
For developers, this is a scale-oriented affordable multifamily land opportunity with an ED1 entitlement pathway already contemplated in the submitted materials. The proposed unit mix and affordability distribution are clearly defined, and the program anticipates additional envelope and density flexibility tied to the stated framework, with off-menu incentives also noted in the plans subject to approval.
The site is positioned in Los Angeles’ Mid-Wilshire / Olympic Park submarket within the Country Club Park HPOZ and is described as a central infill location near Mid-Wilshire, Koreatown, Hancock Park, and the greater Wilshire corridor. The offering is supported by development incentives reflected in the plans, including zero parking, additional height allowances, and an FAR increase from 3:1 to approximately 3.46:1.
For developers, this is a scale-oriented affordable multifamily land opportunity with an ED1 entitlement pathway already contemplated in the submitted materials. The proposed unit mix and affordability distribution are clearly defined, and the program anticipates additional envelope and density flexibility tied to the stated framework, with off-menu incentives also noted in the plans subject to approval.
Key Highlights
- Entitled 18,533 SF development site at 1050 & 1056 S Norton Avenue for a proposed 102‑unit, 100% affordable apartment building
- Proposed 5‑story Type III‑A residential building with approximately 33,833 SF rentable area and approximately 42,908 SF proposed building area
- Unit mix: 27 studios, 71 one‑bedrooms, and 4 two‑bedrooms (including 1 manager's unit)
Property Analytics
Property Profile
Current Use
Lease Details
102
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,551
Businesses Nearby
Explore this area
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Entitled land for a proposed 102-unit, 100% affordable apartment building with an Executive Directive 1 pathway.
Where is this residential land & home lot located?
The property is located at 1050 South Norton Avenue 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: Entitled 18,533 SF development site at 1050 & 1056 S Norton Avenue for a proposed 102‑unit, 100% affordable apartment building; Proposed 5‑story Type III‑A residential building with approximately 33,833 SF rentable area and approximately 42,908 SF proposed building area; Unit mix: 27 studios, 71 one‑bedrooms, and 4 two‑bedrooms (including 1 manager's unit)
