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- LoopNet Team
5050 W Pico Blvd
Los Angeles, CA 90019
READY TO ISSUE (RTI) FOR 79 RESIDENTIAL UNITS · Land For Sale · 0.44 AC
PROPERTY FACTS
| Property Type | Land | Total Lot Size | 0.44 AC |
| Property Subtype | Residential |
| Property Type | Land |
| Property Subtype | Residential |
| Total Lot Size | 0.44 AC |
Description
Hudson Partners has been named the Exclusive Agent for a RTI (ready to issue) 79 Unit apartment project, at the corner of Sycamore Avenue and Pico Boulevard. This shovel ready project is comprised of 1,800 SF of ground-floor retail and 48,325 SF of lease-able residential space. The unit mix is (73) 1 bedroom+ 1 Bathroom and (6) studios, with the average unit size of 612 SF. The construction is 5 levels of Type IIIA (wood-frame) over 1 level podium deck Type IA, totally 6 stories with 1 level below grade. The entitlements delivered to Buyer will be a transit Oriented Communities (TOC) approved project and 8 units shall be allocated to extremely low income tenants, with remaining 71 units will be market rate housing. There is a tremendous amount of development quickly changing the landscape on this stretch of Pico Boulevard. CIM Group has broken ground on a 87,000 square foot commercial building, with two committed anchor Target and Sprouts. This new retail center will continue to fuel multi-family development, providing diverse retail options for this submarket its continued Renaissance.
zoning
| Zoning Code | C4-1-O |
| C4-1-O |
