RTI Project in Highland
For Sale
$2,450,000
249 South Ave 54, Los Angeles, CA 90042
Ready-To-Issue permits for 12 units in vibrant Highland Park.
Property Size24,210 SF
Lot Size0.41 Acres
Price / SF$101.20
Days on Market392
Property Features for 249 South Ave 54
General Information
Standard status
Active
Size
24,210 SF
Lot size
0.41 Acres
Property subtype
Lot/Land
Zoning
LARD2
Listing Agency:
Citivest Realty Services, Inc
(310) 905-4834
Listed By:
Martin Fish · License #01988997
(310) 905-4834
Source:
Compass
Added: Jul 14, 2025
Changed: Aug 8
Last Checked: Jul 16 at 8:20AM
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 Citivest Realty Services, Inc
Investment Insights
Based on property information with market context.
Located in the Highland Park community of Los Angeles, the property at 249 S Avenue 54 presents a development opportunity with Ready-To-Issue (RTI) permits in place for a 12-unit project. 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. The design includes contemporary finishes, energy-efficient features, a full sprinkler system, and compliance 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. This Avenue 54 project is ready for immediate development and long-term success.
Key Highlights
- RTI (Ready‑To‑Issue) permits are in place for a 12‑unit project, allowing for immediate development.
- Potential to increase unit count to 16 total units with recent code updates.
- High estimated annual Net Operating Income (NOI) of approximately $768,903.
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Ready-To-Issue permits for 12 units in vibrant Highland Park.
Where is this residential land & home lot located?
The property is located at 249 South Ave 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 are in place for a 12‑unit project, allowing for immediate development.; Potential to increase unit count to 16 total units with recent code updates.; High estimated annual Net Operating Income (NOI) of approximately $768,903.
