We are excited to present 4705-4709 Elmwood Ave (APNs: 5522-019-011 & 5522-019-010), a unique development opportunity in the highly desirable Greater Wilshire neighborhood of Los Angeles, California. This site presents significant upside potential through various development pathways, including maximizing density through ED1 affordable housing incentives or Small Lot Subdivision (SB… Read More 684) to build 10 homes.Zoned C2-1 with a lot area of 14,499 sq. ft., the site offers multiple development options under current zoning and recent legislative incentives: ED1 (100% Affordable Housing) / Small Lot Subdivision (SB 684) / AB 1287 Density Bonus (Mixed-Income) / By-Right Development. The property is strategically located in the highly desirable Wilshire Community Plan Area within the Greater Wilshire neighborhood, a vibrant and centrally located pocket of Los Angeles. The area is characterized by a mix of commercial corridors and charming residential neighborhoods, offering strong demand for both market rate and affordable housing. Minutes from Koreatown, Larchmont Village, and Hancock Park, three of LA's most sought-after residential and commercial districts. Excellent access to public transit via nearby Metro lines and key bus routes, with strong connectivity to major employment centers in Downtown LA, Hollywood, and the Miracle Mile. Located near major thoroughfares, including Western Ave, Beverly Blvd, and Melrose Ave, facilitating ease of commute and accessibility. Read Less
Courtesy of Marcus & Millichap 818-212-2700
Listing Snapshot
Days Online
186
Last Updated
Property Type
Other
Lot Size
0.33 Acres
MLS Number
25514903
30 Days Snapshot Of 90004
$3.34M
+56%
(avg) sold price
9
+50%
homes sold
75
-21%
(avg) days on market
Snapshot
Area Map
Additional Details
Disclosures
None
Lot
LotAcreage: 0.34, LotSizeArea: 14,499, 2-4 Lots
Miscellaneous
None
Property
Zoning: LAC2
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