Residential Redevelopment Land
For Sale
Contact for pricing
424 S Union Ave, Los Angeles, CA 90017
Redevelopment parcel with LAR4-1 zoning and TOC incentives for up to 31 units.
Property SizeContact for details
Lot Size0.16 Acres
Days on Market121
Property Features for 424 S Union Ave
General Information
Standard status
Active
Lot size
0.16 Acres
Property subtype
Land
Zoning
LAR4-1
Listing Agency:
Marcus & Millichap - Encino
(818) 212-2651
Listed By:
Kian Maronde · License #01952189
Source:
Crexi
Added: Apr 11
Changed: Aug 8
Last Checked: Apr 11 at 5:34PM
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 Marcus & Millichap - Encino
Investment Insights
Based on property information with market context.
This offering is a 7,011 SF redevelopment site consisting of one parcel at 424 S Union Avenue. The property is presented as a land development opportunity with favorable LAR4-1 zoning, which supports development of seventeen units by right with an FAR of 3:1 and no height or story limitation.
The site also falls under TOC tier 3, providing development incentives that increase potential to up to 31 total units with an FAR of 4.5:1. The offering is positioned for an affordable (ED1) development.
The surrounding area includes proposed and under-construction multifamily projects, including a seven-story building with 94 apartments at 1438 Miramar Street and a proposed 38-unit apartment building at 425 S Union Ave replacing a fourplex. The property is located in a Westlake area just outside Koreatown, north of Wilshire Boulevard and east of S Alvarado Street.
The site also falls under TOC tier 3, providing development incentives that increase potential to up to 31 total units with an FAR of 4.5:1. The offering is positioned for an affordable (ED1) development.
The surrounding area includes proposed and under-construction multifamily projects, including a seven-story building with 94 apartments at 1438 Miramar Street and a proposed 38-unit apartment building at 425 S Union Ave replacing a fourplex. The property is located in a Westlake area just outside Koreatown, north of Wilshire Boulevard and east of S Alvarado Street.
Key Highlights
- 7,011 SF redevelopment site on one parcel at 424 S Union Avenue, Los Angeles, CA
- LAR4‑1 zoning allows development of 17 units by‑right with an FAR of 3:1
- TOC Tier 3 offers development incentives and potential to build up to 31 total units with an increased FAR of 4.5:1
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
7,234
Businesses Nearby
Explore this area
Business Placement
Demographics for 90017, CA
27,295
Population
15,953
Households
1.7
Avg Household Size
33
Median Age
36%
College-Educated
72%
High-School Grad
0.7 sq mi
ZIP Area
38,993
Density / Sq Mi
$51,317
Median Household Income
$35,076
Median Earnings
$1,669
Median Rent
$675,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Redevelopment parcel with LAR4-1 zoning and TOC incentives for up to 31 units.
Where is this residential land & home lot located?
The property is located at 424 S Union Ave Los Angeles, CA.
What are key features of this property?
This property features: 7,011 SF redevelopment site on one parcel at 424 S Union Avenue, Los Angeles, CA; LAR4‑1 zoning allows development of 17 units by‑right with an FAR of 3:1; TOC Tier 3 offers development incentives and potential to build up to 31 total units with an increased FAR of 4.5:1
