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Closed
- Listed price
- $550,000
- Listed Mar 25, 2020
- Sold price
- $530,000
- Sold May 13, 2020
6,047 sqft lot|2020 Built|14 MLS days on market
1162 W Florence Ave, Los Angeles, CA 90044
Property Description
What an opportunity to build in one of the quickest growing neighborhoods in all of Los Angeles. The subject property is a 50x120 CORNER lot (6,047 sq feet) zoned C2 that sits on the cross streets of Budlong and Florence. By right, the site allows for 15 units and if you were to take advantage of the tier 2 TOC zoning you can build up to 23 units. Florence is the main artery into all the development going on around the new Clippers and Rams Stadium. The site is 1.1 miles away from the new Clippers arena and just 3.7 miles from the Rams NFL stadium. The seller has already paid for preliminary plans to build a 3 story 6 unit development that features 7,500 square feet of living space and on-grade parking. The plans call for the following - 4 units consisting of 3 bedrooms 3 bathrooms and 2 units consisting of 4 bedrooms 1 bath. Once stabilized with market rents this building will gross 18,000 / month and yield a 5.25% cap rate at a 2.96 million valuation. Please check the supplements for a copy of the preliminary floor plan and complete site profile which provides more information on the site along with demographic data.
Listing agent: Drew DunnDRE #01941825drewdunn25@gmail.com, Listing office: Four Brothers Real Estate
MLS data updated 11/4/2026, 2:50:57 AM PT
Source: CRMLSMLS #: OC20060689
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Price & property history
Compare recorded home prices, same-type ZIP sales and mortgage rates.
Last recorded sale$530,000
May 13, 2020
Available records22020
From MLS recordsActual listing and closing events
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No recordNo property-price record in this range.ZIP 90044 · Nov 2026
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