1223 West Court Street

Los Angeles, CA 90026

$2,400,000
Price
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Beds
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Description

Emerging Area - Multi-family Property For Sale - 21,750 Sq. Ft. Contiguous Land! This incredible assemblage of three parcels (APN 5160-022-034, 035, 036) total approximately 21,750 SF (0.5 Acres) of land and also includes an existing 8-unit apartment building. All units are 2bd/1ba. Two units are currently vacant and in need of renovation. Those two units will be delivered as-is. This year the roof was replaced and the building exterior was painted. The site is located in the Westlake neighborhood...Emerging Area - Multi-family Property For Sale - 21,750 Sq. Ft. Contiguous Land! This incredible assemblage of three parcels (APN 5160-022-034, 035, 036) total approximately 21,750 SF (0.5 Acres) of land and also includes an existing 8-unit apartment building. All units are 2bd/1ba. Two units are currently vacant and in need of renovation. Those two units will be delivered as-is. This year the roof was replaced and the building exterior was painted. The site is located in the Westlake neighborhood in Los Angeles just West of Downtown Los Angeles. Over the last five years the area has seen a great renewal with hundreds of new units built within a few blocks of the subject site. Residentially dense zoning, described below, allows for many development strategies for the three parcels all while generating cashflow from the existing rental units. Possible development examples: Add units to the existing apartment site under current zoning or ADU legislation. Build new units on vacant parcels. Demolish existing building and develop entire acreage Land bank vacant lots for future development
Zoning: R4(CW)-75/3-0 (Density 400 SF of Land/Dwelling Unit, 75' Height Limit, 3.0 FAR)

Key Highlights:
Central Location - A short uber ride to Crypto.com Arena, Dodger Stadium, the Music Center, The Broad Museum, Echo Park, Chinatown, Little Tokyo
Views - Stunning city light views of the Downtown Los Angeles skyline. Emerging Area - Within a few blocks of the site there are close to 500 new units across 7 new apartment communities and even more beyond that immediate area. Contiguous Parcels- A substantial plot of contiguous land, ideal for residential development projects
Multi-family Zoning - Existing zoning allows high density multi-family communities. TOC Tier 2 - City of Los Angeles Transit Oriented Communities Affordable Housing Incentive Program. Tier to be verified with current transportation services. QCT - Site is within QCT designated areas that are sought after by affordable housing tax credit developers (Qualified Tracts Area per 2024 HUD map). Don't miss out on this exceptional opportunity in this emerging market!
  1. Listed by Roger D Phillips • DRE #01057506 • Keller Williams Realty
  2. Listed by James Robert Maceo III • DRE #01917022 • Keller Williams Realty

Amenities

  • Air Conditioning
LISTING UPDATED: 12/02/2024 11:03 AM

Property Details for 1223 West Court Street

StatusActive
MLS #P1-18664
Days on Market148
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeCommercial Sale / Multi Family
Year Built1962
Lot Size0.50 AC / 21,750 SF
CountyLos Angeles County

Building Information for 1223 West Court Street

Stories-Residences-Year Built1962Building Size-Lot Size0.50 AC / 21,750 SF

Property Information for 1223 West Court Street

Summary
Location and General Information
  • Building Area Units: Square Feet
  • City: Los Angeles
  • Directions: Start on W Temple St, Turn onto N Boylston St, Turn right onto W Court St, and Property will be on the Right
  • Area: C21 - Silver Lake - Echo Park
  • Unparsed Address: 1223 West Court Street, Los Angeles, CA 90026
Taxes and HOA Information
  • Association Fee: $.00
  • Tax Other Annual Assessment Amount: $130.00
Virtual Tour
  • Videos Count: 0
Property
Lot Information
  • Lot Features: Sprinklers None
  • Lot Size Acres: .50
  • Lot Size Square Feet: 21,750.00
  • Lot Size Area: 21,750.00
  • Lot Size Units: Square Feet
  • Parcel Number: 5160022035
  • Property Type: Commercial Sale
  • Property Sub Type: Multi Family
Property and Assessments
  • Documents Count: 0
  • Year Built Source: Public Records
Utilities
  • Cooling: Yes
  • Water Source: Public
Interior and Exterior Features
Exterior Features
  • Structure Type: Multi Family
Interior Features
  • Total Bathrooms: 0
  • Heating: Yes
  • Living Area Source: Public Records
  • Living Area Units: Square Feet
Multi Family
Multi-Family Information
  • Special Listing Conditions: Standard
Rental
Rental Information
  • Lease Considered YN: No

Property History for 1223 West Court Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1223 West Court Street

Taxable ValueLand$32,416Additions$99,957Total$132,373
Tax Record2024$2,715 ($226 / month)
Home Facts
Total Finished SqFt5,364 SqFtAbove Grade Finished SqFt5,364 SqFtLot Size7,250 SqFtStyleMulti-Family Res (5+ Units)Year Built1962ZoningLACWCountyLOS ANGELESAPN5160-022-035

Schools near 1223 West Court Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Betty Plasencia Elementary School
PublicK to 5

Sal Castro Middle School
Public6 to 8

Belmont Senior High School
Public9 to 12

Miguel Contreras Learning Complex School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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1223 West Court Street is a multi-family home for sale in Los Angeles, CA 90026. This property was listed for sale on July 26, 2024 by Keller Williams Realty, it's currently listed at $2,400,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Betty Plasencia Elementary School, Sal Castro Middle School and Belmont Senior High School. 1223 West Court Street is a 0-bed, 0-bath, multi-family home built in 1962.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams Realty, Roger D Phillips, DRE #01057506; Keller Williams Realty, James Robert Maceo III, DRE #01917022

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.