1470 W Adams Blvd - Apartments FOR SALE


Los Angeles, CA 90007- West Adams
$2,750,000 USD
310-658-2668
1470 W Adams Blvd, Los Angeles, CA for Sale
$2,750,000 USD
Apartments - FOR SALE
1/11
null | Request Cap Rate

1470 W Adams Blvd
Los Angeles, CA 90007
West Adams


HIGHLIGHTS

  • Prime Location: 0.6 miles from USC, within the DPS Patrol Zone.
  • Historic & Value-Add: Located in Adams-Normandie HPOZ with development potential.
  • Large Lot & Zoning: 12,765 SF lot with LAC2 zoning and Tier 3 TOC.
  • Flexible Development: Convert the home into 4 units and build on the 4,500 SF rear yard.
  • Affordable Housing Potential: Eligible for incentives and funding opportunities.
  • High-Growth Area: Near new multifamily projects, retail, transit, and LA attractions.

OVERVIEW

We are pleased to present 1470 W. Adams Blvd, a premier value-add and development opportunity, located in the highly desirable DPS Patrol Zone, and walking distance to the University of Southern California (USC). Situated just 0.6 miles from the USC campus, this 12-bedroom, 4,313-square-foot home sits on an oversized 12,765-square-foot lot with LAC2 zoning and Tier 3 TOC designation. This historic residence is nestled within the Adams-Normandie Historic Preservation Overlay Zone (HPOZ), offering a unique blend of classic charm and modern potential. Given the historic preservation restrictions on the existing structure, a strategic development plan would involve renovating and subdividing the current 12-bedroom home into four units while utilizing the expansive 4,500-square-foot rear yard (75' x 60') for additional construction. By leveraging by-right development rights and ADUs, the site could realistically accommodate 15-20 units.Additionally, there is strong potential to position the property as an affordable housing investment. A viable strategy would be to convert the existing structure into four units while constructing a four-story apartment building in the rear. This approach aligns with LA's desperate need for additional housing and could allow developers to take advantage of various incentives and funding opportunities for affordable housing projects.Located in the heart of a rapidly developing corridor, the property is adjacent to two newly built large-scale multifamily projects and within walking distance of a Ralphs grocery-anchored retail center. Beyond its proximity to USC, the location offers easy access to the Metro Expo Line station and Exposition Park, home to the LA Coliseum, BMO Stadium, and the upcoming George Lucas Museum of Narrative Art. Additionally, with a short 10-minute commute to Downtown Los Angeles and convenient access to the 10 Freeway, the property is ideally positioned for strong rental demand and long-term growth. All development plans should be verified with local zoning and planning authorities. Please contact the listing agent for a feasibility study on the development potential of the site, helping buyers evaluate the highest and best use for the property. Property to be delivered vacant at the close of escrow. Agent Remarks : PLEASE NOTE THE FOLLOWING: 1) DO NOT DISTURB THE TENANTS. 2) Submit Offer on a CAR Residential-Income Purchase Agreement. 3) Interior Inspection/Books & Records Granted with an Accepted Offer. 4) Submit Proof of Funds & Pre-Qualification Letter with Offer. 5) Seller Selects all Services Disclaimer: All information has been secured from sources we believe to be reliable. However, we make no representation or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information above and bears all risk for any inaccuracies.

FOR SALE DETAILS

PRICE

$2,750,000 USD

PRICE/SF

$638 USD /SF

# OF UNITS

2

PRICE/UNIT

$1,375,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Prime Student/Affordable Housing Investment

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1895

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.29 AC

LAND SF

12,765 SF

ZONING

LAC2 Zoning, Tier 3 TOC

APN/PARCEL ID

5054-028-017

ASK ABOUT THIS PROPERTY

Adam ShamooelianKW Commercial Beverly HillsMore Info
310-658-2668

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Adam ShamooelianKW Commercial Beverly HillsMore Info
310-658-2668

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.