Land for Sale in Los Angeles, California
249 S Avenue 54, Los Angeles, CA 90042
12 Unit RTI project with alley access. Located in the vibrant Highland Park community of Los Angeles, 249 S Avenue 54. This offers a rare development opportunity with RTI (Ready-To-Issue) permits in place. The existing property features three separate bungalow homes with alley access. NO RELOCATION, THE PROPERTY IS DELIVERED FULLY VACANT. The approved plans allow for four new construction duplex structures and two detached ADUs. Upon CofO, the new owner will be able to capture six (6) additional ADUs by right. Recent code updates allow for 8 ADUs bringing the unit count to 16 total. The new project will feature (8) 5B/5B units and (8) 2B/2B ADUS, each thoughtfully designed to meet the needs of modern urban living. The building will encompass approximately 24,210 square feet on a 17,882 square foot lot, designed with contemporary finishes, energy-efficient features, a full sprinkler system, and full compliance with the latest seismic and building codes. Situated just minutes from Downtown Los Angeles, tucked in between Griffith Obervatory and the 110 Parkway, the property benefits from a strong demand for rental housing, making it ideal for families or co-living operations. The estimated annual NOI is approximately $768,903. Avenue 54 offers an outstanding opportunity to invest in a high-demand, centrally located project ready for immediate development and long-term success.
Location
- Street address
- 249 S Avenue 54
- County
- Los Angeles County
- Elevation
- 466 feet
Directions
Off Longfellow St.
Property details
- Lot size
- 0.399 acres17,380 sq ft
- Zoning
- LARD2
- MLS #
- MRMLS PW25174973
- Posted
Parcels
- 5468013025
Details and features
Listing
- Type
- Land
Lot
- View
- Canyon, City, Hills
Exterior
- Fencing
- Fenced
- Features
- Biking Community Features Included, Dog Park, Fence, Hiking, Mountainous, Sidewalks, Street Lights, Suburban
Listing history
| Date | Event | Price | Change | Source |
|---|---|---|---|---|
| Dec 10, 2025 | Price drop | $2,840,000 | $10,000 -0.4% | MRMLS |
| Dec 6, 2025 | Price drop | $2,850,000 | $20,000 -0.7% | MRMLS |
| Nov 21, 2025 | Price drop | $2,870,000 | $10,000 -0.3% | MRMLS |
| Nov 12, 2025 | Price drop | $2,880,000 | $5,000 -0.2% | MRMLS |
| Nov 6, 2025 | Price drop | $2,885,000 | $10,000 -0.3% | MRMLS |
| Oct 21, 2025 | Price drop | $2,895,000 | $100,000 -3.3% | MRMLS |
| Sept 10, 2025 | New listing | $2,995,000 | — | MRMLS |