Ready-To-Issue 12-Unit Development
For Sale
$2,450,000
249 S Avenue 54, Los Angeles, CA 90042
LAND - Los Angeles, CA
Lot Size0.40 Acres
Days on Market362
Property Features for 249 S Avenue 54
General Information
Property type
Land
Property subtype
Other
Zoning
LARD2
Lot features
11-15 Units/ Acre, 0-1 Unit/ Acre, Front Yard, Back Yard, 6-10 Units/ Acre, Lawn, Value In Land
View
Hills, City, Canyon
Directions
Off Longfellow St.
Subdivision
632 - Highland Park
Standard status
Active
APN
5468013025
Lot size
0.40 Acres
Utilities
Utilities
Water Available
Water source
Public
Listing Agency:
Citivest Realty Services, Inc
(714) 553-2001
Listed By:
Martin Fish · License #01988997
(310) 905-4834
Added: Aug 4, 2025
Changed: Jul 29
Last Checked: Jul 31 at 8:06PM
MLS# PW25174973
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located in the Highland Park community of Los Angeles, this property presents a development opportunity with Ready-To-Issue (RTI) permits. The existing property includes three separate bungalow homes with alley access and will be delivered fully vacant. Approved plans allow for four new construction duplex structures and two detached ADUs. Upon Certificate of Occupancy (CofO), the new owner can add six additional ADUs, potentially bringing the total unit count to 16 due to recent code updates allowing for 8 ADUs. The new project will feature eight 5-bedroom, 5-bathroom units and eight 2-bedroom, 2-bathroom ADUs. The building will encompass approximately 24,210 square feet on a 17,882 square foot lot. Designed with contemporary finishes and energy-efficient features, the project includes a full sprinkler system and complies with the latest seismic and building codes. Situated minutes from Downtown Los Angeles, between Griffith Observatory and the 110 Parkway, the property benefits from a strong demand for rental housing, making it suitable for families or co-living operations. The estimated annual Net Operating Income (NOI) is approximately $768,903.
Key Highlights
- RTI (Ready‑To‑Issue) permits in place for a 12‑unit project in Highland Park.
- Potential to build 8 additional ADUs, bringing the total unit count to 16.
- Delivered fully vacant with no relocation requirements.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,268
Businesses Nearby
Explore this area
Business Placement
Demographics for 90042, CA
58,295
Population
22,630
Households
2.6
Avg Household Size
37
Median Age
40%
College-Educated
81%
High-School Grad
4.5 sq mi
ZIP Area
12,954
Density / Sq Mi
$94,401
Median Household Income
$49,804
Median Earnings
$1,853
Median Rent
$940,600
Median Home Value
Market
Average Price Trend$/SF for Land in Los Angeles, CA
Properties on Market for Land in Los Angeles
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Land - RTI 12-unit project in Highland Park, delivered fully vacant.
Where is this land 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: RTI (Ready‑To‑Issue) permits in place for a 12‑unit project in Highland Park.; Potential to build 8 additional ADUs, bringing the total unit count to 16.; Delivered fully vacant with no relocation requirements.
