1157 20Th St Los Angeles, CA 90011

Property Details for 1157 20Th St

Property type

Commercial real estate

APN

5131-008-027 & 5131-008-026

Description

This exceptional 10,886 square-foot double lot, located at 1157-1201 E 20th Street in Los Angeles, CA (90011), presents a remarkable development opportunity in a rapidly revitalizing South-Central Los Angeles neighborhood. The property boasts a LAR3-1 zoning designation, allowing for fourteen units by right, and offers significant potential for increased density. Utilizing the ED1 ordinance, the site could accommodate up to eighty units, bypassing typical height restrictions and benefiting from the absence of minimum parking requirements under AB 2097. Currently operating as a seven-unit multifamily property (quadplex and triplex), this asset provides immediate income while pursuing entitlements. The location is strategically positioned near major thoroughfares, including S Central Ave and E Washington Blvd, offering convenient access to freeways (110 & 10) and a short distance to USC. Nearby amenities include Trinity Recreation Center, Planet Fitness, and various restaurants and shops. The property's substantial size and favorable zoning, combined with the ongoing revitalization of South Los Angeles, make this an unparalleled investment for developers seeking high-density residential projects. The land is offered fee simple with APN 5131-008-027 & 5131-008-026. The asking price is $1,195,000, translating to a land value of $109.77 per square foot. Limited additional concessions or incentives are granted under the State Density Bonus program. This presents a unique chance to capitalize on the area's growth and create a significant residential development.