249 S Avenue 54, Los Angeles, CA 90042

Listing office Citivest Realty Services, Inc M***@streetlamppartners.com Show Phone

Listing date Sep 10, 2025

Source Exitrealty

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Overview

This is a 12-unit ready-to-issue (RTI) redevelopment project with alley access. The existing property includes three separate bungalow homes, all delivered fully vacant, with no relocation required. Approved plans call for four new construction duplex structures and two detached ADUs.

The project is located at 249 S Avenue 54 in the Highland Park community of Los Angeles. The site has alley access and is described as minutes from Downtown Los Angeles, positioned between Griffith Observatory and the 110 Parkway.

Subject to obtaining a Certificate of Occupancy, the new owner can capture six additional ADUs by right, and recent code updates would allow up to 8 ADUs, for a total unit count of 16. The proposed development is approximately 24,210 square feet on a 17,882 square foot lot and is designed to include a full sprinkler system and full compliance with the latest seismic and building codes. Unit mix in the approved plan includes eight 5B/5B units and eight 2B/2B ADUs. The remarks also cite an estimated annual NOI of approximately $768,903. Listing is offered for sale as an RTI project with permits in place and a fully vacant delivery.

Suggested Use

Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

• Map
• Local Demand

City

Los Angeles

County

Los Angeles

State

California

Longitude

-118.195435

Latitude

34.104485

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FAQs

What type of property is this?

Apartment building - Ready-to-issue permitting for an ADU-rich redevelopment with alley-access bungalows and future duplex and detached units.

Where is this apartment building located?

The property is located at 249 S Avenue 54 Los Angeles, CA.

What is the asking price?

The asking price for this property is $2,450,000.

What are key features of this property?

This property features: 12‑unit RTI (Ready‑to‑Issue) ADU redevelopment with alley access at 249 S Avenue 54, Los Angeles; Approved plans for four new construction duplex structures and two detached ADUs; CofO allows six additional ADUs by right; Unit count increase path: approved project plus by‑right ADUs, with code updates allowing up to 8 ADUs total (16 units total)