Daniel & Esther Suh Acquire Development Site In Los Angeles From James McNeal For $4.7M

The development site located at 4718 Oakwood Avenue in Los Angeles has been sold for $4,700,000. The property spans 22,253 square feet with a per square foot price of $211. It has been under the same family ownership for over 50 years and is zoned LAR3.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $4,700,000
• Square Footage: 22,253
• Address: 4718 Oakwood Avenue
• Market: Los Angeles
• Buyer: Daniel & Esther Suh
• Seller: James McNeal
• Brokers: Filip Niculete, Glen Scher - LAAA Team - Marcus & Millichap; Ray Akbari - The Agency; Cyrus Ahmadi - Standard Realty
• Note from Broker: Closed March 18, 2026, with negotiations preserving the deal through a non-refundable deposit release.

The buyer, Daniel and Esther Suh, have plans to develop a 128-bed Mental Health Rehabilitation Center on the site. This development is being expedited as it doesn't require additional City Planning entitlements.