Seize this incredible opportunity to develop in the dynamic part of town - right between Hancock Park and Koreatown! This large vacant lot consists of two separate APN's with a combined area of 13,314 square feet. The R3-2 zoning offers a blank slate for your visionary project. The building is almost RTI for 29 units with a total of 40,000 sq. ft. And 53 parking spaces. Renderings of proposed building found in pictures. Alternatively, a feasibility report has been done for affordable housing comfortably fitting 144 units. Whether you envision building 29-unit luxury condo residences or building affordable housing, the potential is immense! Sold together with 544 S Wilton Pl, this prime location is your chance to create something extraordinary in one of LA's most vibrant neighborhoods. Don't let this opportunity pass you by!
Property Details
Property Features
Listing Office:
Office Name: Compass
Office Phone: (310) 230-5478
Listing Agent: Jesse Sanchez
Exterior Features
Exterior Information:
View: City Lights, Hills, Other
Lot Features
Lot Information:
Lot Size: 0.17 Acres
Other
Directions Information:
Directions: North of Wilshire between Western Ave and Rossmore Ave
Price Information
Listing Price Info
Price Summary:
List Price: $2,999,999
Tax Information:
Annual Amount: $17,859
Tax Year: 2021
What can I afford?
Understand what home price range makes sense for your budget.
Housing Market Comparison
See how this home compares to others in Los Angeles, CA.
This property is $1.9M more than the Median Sold Price in Los Angeles, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #24463865
Listing Office:
Office Name: Compass
Office Phone: (310) 230-5478
Listing Agent: Jesse Sanchez
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. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 12/18/2024, 7:20:58 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Listing History
DATE
EVENT
PRICE
Mar 26, 2021
Mar 26, 2021Home Sold
$2,900,000
Apr 01, 2019
Apr 01, 2019Home Sold
$1,450,000
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$17,859
$1,494,322
2020
$5,441
$1,479,000
2019
$5,277
$421,589
2018
$5,168
$413,324
2017
$5,168
$405,221
History based on county public records data.
Payment Calculator
Calculate your estimated monthly expenses for this listing. Play with the values below to better understand your monthly payment and utilities.
$15K
Per Month
Principal & Interest
$14.9K
Home PriceThe dollar amount you pay for the home.
$
Interest RateMortgage interest rates fluctuate, but they're typically in the 5% to 9% range. Your rate will be calculated based on personal details including your credit score.
%
Down PaymentThe initial money paid at closing that is usually a percentage of the purchase price. Most loans require at least 3% down, but a 0% down payment may be possible if you're eligible for a VA or USDA loan.
$%
Loan TermThis is how long you'll pay on the loan. A longer term gives you smaller payments, while a shorter term saves you money on interest.
Property Taxes
$0
Property Taxes -Annual CostEvery homeowner pays taxes to their local government based on their home's value and the property tax rates for the county or city. Most areas charge property taxes semiannually.
$/ Year
Mortgage Insurance
$0
Mortgage Insurance -Monthly PremiumMortgage insurance helps secure a mortgage with a lower down payment. It typically costs 0.1% - 2% of your loan amount per year.
$/ Month
Homeowners Insurance
$67
Homeowners Insurance -Monthly PremiumMost homeowners pay about $1,000 a year for homeowners insurance, but the cost varies based on your location, home and coverage.
$/ Month
Homeowners Association (HOA)
$0
Homeowners Association -Monthly FeesHomeowners Association (HOA) fees can range from $30 per month to $500+ per month. Be sure to ask your agent about HOA fees on a home as it can impact your affordability or check the online home listing.
$/ Month
Utilities
$0
Utilities - Monthly CostYou'll need to budget for utilities as a homeowner, which typically includes water and sewer, gas and electric, internet and cable. Cost will depend on your location and the size of your home. On a monthly basis, Americans pay $239 - $442 per month.
$/ Month
Recommended Financing
30-Year Fixed
Rate/APR
7.5% / 6.68%
Total Monthly Payment
$9,061
Powered By
Advertisement
NMLS#3030
Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
8
/10
Wilshire Park Elementary
4063 Ingraham St
Distance between this listing and this school0.24 miles
Public District Grades KG-5
5
/10
Wilton Place Elementary
745 S Wilton Pl
Distance between this listing and this school0.35 miles
Public District Grades KG-5
7
/10
Kim Elementary School
225 S Oxford Ave
Distance between this listing and this school0.55 miles
Public District Grades KG-5
Nearby Schools
4
/10
Pico Pico Middle School
1512 Arlington Ave
Distance between this listing and this school1.26 miles
Public District Grades 6-8
6
/10
John Burroughs Middle School
600 S McCadden Pl
Distance between this listing and this school1.31 miles
Public District Grades 6-8
3
/10
Young Oak Kim Academy
615 Shatto Pl
Distance between this listing and this school1.36 miles
Public District Grades 6-8
Nearby Schools
5
/10
RFK Community Schools - UCLA Community School
700 S Mariposa Ave
Distance between this listing and this school0.96 miles
Public District Grades KG-12
4
/10
RFK Community Schools - Ambassador School of Global Leadership
701 S Catalina St
Distance between this listing and this school1.01 miles
Public District Grades 6-12
4
/10
RFK Community Schools - Los Angeles High School of the Arts
701 S Catalina St
Distance between this listing and this school1.01 miles
The neighbors living near this home have an average income of $40,802. Residents of Los Angeles, CA typically earn between $35k-100k each year. Most families are single, no kids. Residents of this area typically have post secondary degree education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 550 S Wilton Pl
What is the listing price of this property?
The listing price of 550 S Wilton Pl property is $2,999,999.
What type of property is this?
The property 550 S Wilton Pl is land located in Los Angeles, California, 90020.
Is this property for sale now?
Active Listing: 550 S Wilton Pl is For Sale (Active/New) which means the seller is accepting offers.
What is the annual property tax for this property?
According to the records, the last property tax for 2021 is $17,859 (source: MLS/based on county public records data).
When was this property sold last time and for how much?
The last sale was on March 26, 2021 for $2,900,000. (source: MLS/tax record).
By checking this box and submitting your personal information, you agree to our Terms of Use and Privacy Policy. You also expressly consent to having Rocket Homes Real Estate LLC, its Family of Companies, Rocket Homes Network Partners, and potentially our mortgage partners contact you about your inquiry by text message or phone (including automatic telephone dialing system, AI voice, or an artificial or prerecorded voice) to the residential or cellular telephone number you have provided, even if that telephone number is on a corporate, state, or national Do Not Call Registry. You do not have to agree to receive such calls or messages as a condition of getting any services from Rocket Homes Real Estate, LLC or its partners. By communicating with us by phone, you consent to calls being recorded and monitored. You also agree that we can share your personal data and contact information with third parties such as mortgage partners, partner companies, and affiliates, and that these parties may use your personal data and contact information for marketing and analytic purposes, and to improve your experience.
This home is located at 550 S Wilton Pl in Los Angeles, CA and zip code 90020 in the Central LA neighborhood. This home sits on a 0.17 acre lot. It has been listed on Rocket Homes since November 15, 2024 and is currently priced at $2,999,999.
Over 512 listings were sold over their listed price in November 2024 in Los Angeles, CA. In the same period over 657 listings were sold below the listed price and 177 listings were sold for the listed price. In November 2024 in Los Angeles, CA there were 0.6% less homes for sale than in October 2024. In November 2024, listings were on the market for 38 days. During the same period, the median list price in this real estate market was $1,021,532.
From Rocket Homes Real Estate and based on county public records data.
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. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
Major League Soccer (MLS)
Major League Soccer (MLS)
Music Concerts
Art Museums
Banana Republic
H&M
Bloomingdales
Jack In The Box
Chipotle
Starbucks
Toyota
Volkswagen
Audi
Jazz
Rhythmic Contemporary Hits
News