4614 Western Ave Los Angeles, CA 90062-2314

Property Details for 4614 Western Ave

Year built

1962

Construction

WOOD

Lot size

0.13 lot acres

Property size

7,824 SF

Zone code

LAC2

Property type

Investment properties

Property subtype

Live-work space

APN

5016-014-004

APU

5016014004

Description

This exceptional mixed-use property presents a compelling value-add investment opportunity in South Los Angeles. Located at 4614 S Western Ave, this 7,824 square foot, two-story building sits on a 5,663 square foot lot and offers a unique blend of commercial and residential space. Currently vacant, the property comprises seven ground-floor commercial units suitable for retail or office use, and four one-bedroom, one-bathroom residential apartments on the second floor. Built in 1962, the property features an atrium, front and rear staircases, a storage room, and gated rear parking with alley access. The property requires updating and offers significant potential for redevelopment or renovation. Benefiting from its location in an Opportunity Zone, Los Angeles State Enterprise Zone, Redevelopment Project Area - Western/Slauson, and Urban Agriculture Incentive Zone, this property is eligible for various incentives and loan programs, including reduced parking requirements, density bonus, and streamlined approval processes. Its prime location on Western Avenue, between 46th and 47th Streets, places it across from Barack Obama Global Preparation Academy and Westbrook Middle School, in a Transit Oriented Community (TOC 3) with convenient bus access. The surrounding area is experiencing significant growth and development, presenting substantial long-term upside. The asking price is $1,750,000. The property is zoned LAC2. The APN is 5016-014-004.