$1,599,999
$100K PRICE DROP

1606 Menlo Ave Los Angeles, CA 90006

Pico-Union Neighborhood

Estimated payment $10,097/month

Total Views 11,125
0.17 Acre
$9,540,841 Price per Acre
7,303 Sq Ft Lot

Highlights

  • Property is near public transit
  • Wrought Iron Fence
  • Rectangular Lot
  • No HOA

About This Lot

Development Opportunity – 7300 SF CM-1 Zoned Lot Near Koreatown & Downtown LA!

Incredible development opportunity located just south of Koreatown and west of Downtown Los Angeles. This ±7,300 SF lot is zoned LA CM-1, allowing for R3 development potential. Situated near the high-visibility intersection of Vermont Ave & Venice Blvd, the property offers excellent exposure for future leasing signage and convenient access to major hubs including Koreatown, Downtown LA, USC, and the Vermont Ave exit.

Key Features:
• Zoning: LA CM-1 (R3 development potential)
• Lot Size: ±7,300 SF
• Location: Near Vermont/Venice intersection
• High rental demand area
• Easy access to 10 Freeway, Downtown, Koreatown, and USC
• Existing architectural plans by Sammi Trabizi for a 5-story, 38-unit apartment building (available upon request)

Koreatown continues to be one of LA’s most rapidly evolving neighborhoods, making this a prime location for multifamily investment or new construction.
Do not miss this rare opportunity to develop in a high-demand rental market. Buyer to verify all zoning and development possibilities with the city.

Listing Agent

Liza Parrilla

Keller Williams Realty Calabasas Brokerage Phone: 818-601-3269 License #02041822 Listed on: 03/26/2025

Keller Williams Realty Calabasas

Property Details

Property Type

  • Land

Est. Annual Taxes

  • $17,359

Lot Details

  • 7,303 Sq Ft Lot
  • Lot Dimensions are 50 x 146
  • Wrought Iron Fence
  • Block Wall Fence
  • Chain Link Fence
  • Fence is in average condition
  • Rectangular Lot
  • Level Lot
  • Property is zoned LACM, CM-1 \ R-3

Location

  • Property is near public transit

Listing and Financial Details

  • Legal Lot and Block 24 / 2
  • Assessor Parcel Number 5056019002
  • $207 per year additional tax assessments

Community Details

Overview

  • No Home Owners Association

Recreation

  • Exterior Lighting

Property Details

Property Type

Land

Est. Annual Taxes

$17,359

Lot Details

0

Listing Details

  • Possible Use: Commercial, Multi-Family
  • View: No
  • Zoning: LACM
  • Zoning Description: CM-1 \ R-3
  • Property Type: Land
  • Parcel Number: 5056019002
  • Special Features: None
  • Property Sub Type: LotsLands

Interior Features

  • Price Per Square Foot: 219.09

Exterior Features

  • Fencing: Average Condition, Block, Chain Link, Wrought Iron

Utilities

  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Lot 6500-9999, Rectangular Lot, Level, Near Public Transit
  • Lot Size: 50 X 146
  • Lot Size Sq Ft: 7303.00
  • Lot Size Acres: 0.1677
  • Latitude Manual: 34.04399000

Multi Family

  • Lot Size Area: 7303.0000 Square Feet

Tax Info

  • Tax Block: 2
  • Tax Census Tract: 2211.20
  • Tax Lot: 24
  • TaxOtherAnnualAssessmentAmount: 207.00

Map

Range of Values:

Collateral Analytics

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Average Value
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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $17,359 $1,458,600 $1,458,600 --
2024 $17,359 $1,430,000 $1,430,000 --
2023 $11,900 $974,854 $832,320 $142,534
2022 $11,347 $955,740 $816,000 $139,740
2021 $8,447 $684,012 $547,210 $136,802
2020 $8,531 $677,000 $541,600 $135,400
2019 $1,058 $55,546 $36,894 $18,652
2018 $2,218 $54,458 $36,171 $18,287
2017 $4,275 $53,391 $35,462 $17,929
2016 $868 $52,345 $34,767 $17,578
2015 $859 $51,559 $34,245 $17,314
2014 $874 $50,550 $33,575 $16,975
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/30/2025 06/30/25 Price Changed $1,599,999 -3.0% --
05/23/2025 05/23/25 Price Changed $1,650,000 -2.9% --
03/26/2025 03/26/25 For Sale $1,700,000 -- --
Source: California Regional Multiple Listing Service (CRMLS)

Purchase History

Date Type Sale Price Title Company
Grant Deed $1,430,000 Usa National Title Company In
Grant Deed -- Usa National Title
Trustee Deed $654,270 None Available
Quit Claim Deed -- None Available
Interfamily Deed Transfer -- Usa National Title Company
Interfamily Deed Transfer -- Usa National Title Company
Interfamily Deed Transfer -- None Available
Interfamily Deed Transfer -- None Available
Interfamily Deed Transfer -- None Available
Interfamily Deed Transfer -- None Available
Interfamily Deed Transfer -- None Available
Interfamily Deed Transfer -- None Available
Interfamily Deed Transfer -- None Available
Interfamily Deed Transfer -- None Available
Interfamily Deed Transfer -- None Available
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $520,000 Commercial
Previous Owner $520,000 Commercial
Previous Owner $606,750 Negative Amortization
Source: Public Records

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SR25066561

California Regional Multiple Listing Service (CRMLS)

APN: 5056-019-002

California Los Angeles County Los Angeles 90006 Pico-Union

1606 Menlo Ave, Los Angeles, CA

This home is located at 1606 Menlo Ave, Los Angeles, CA 90006 and is currently priced at $1,599,999. 1606 Menlo Ave is a home located in Los Angeles County with nearby schools including Magnolia Avenue Elementary School, Berendo Middle, and West Adams Preparatory High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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Listing Agent
Liza Parrilla
Section Image
Keller Williams Realty Calabasas
(818) 657-6500