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$ 1,100,000
Est. payment | /mo
9 Beds
6 Baths
2,780 SqFt
$ 1,100,000
Est. payment | /mo
9 Beds
6 Baths
2,780 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,780 sqft
Price per Sqft $395
MLS Listing ID 24415301
Bedrooms 9
HOA Y/N No
Year Built 1999
Lot Size 7,993 Sqft
Property Description
Great investment opportunity for builders to develop, investors to buy and hold or as an owner-occupied property. ED1 Eligible. Eligible for new CHIP ordinance that can allow additional 50% density increase and significant parking reductions (See Docs).Prime development opportunity in the vibrant and rapidly evolving 90043 zip code of Los Angeles. The parcel, zoned C2-2D-SP, offers significant potential for mixed-use development, benefiting from its designation as a TOC Tier 3 site. This tier allows for substantial density increases and parking reductions, enhancing the project's feasibility and attractiveness.Key Features include a generous buildable area with a lot size of 7,992 sq. ft. and a buildable square footage of 47,952 sq. ft., this property is ideal for creating a substantial mixed-use development. Density and parking benefits may allow a 70% density increase and a 50% reduction in parking requirements, optimizing the project's scope and efficiency. Situated in a bustling area with easy access to major thoroughfares and public transportation, this property is positioned to capitalize on the growing demand for residential and commercial spaces in Los Angeles. The strategic location ensures a steady influx of potential residents and businesses, making it a highly attractive investment for developers. All information given is deemed reliable but not guaranteed. Buyer and buyers agent to perform their own investigation to verify zoning, planning and building possibilities, including but not limited to lot size, to their satisfaction. Call listing agent for additional information on the current rent roll. This property may be delivered vacant at close of escrow. An additional 3/2 unit is under construction with permits, bringing total number of units to three 3/2's. Property will be shown by appointment with accepted offer subject to interior inspection.
Location
State CA
County Los Angeles
Area Phht - Park Hills Heights
Zoning LAC2
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Appliance Refrigerator
Exterior
Parking Features One Space
Attached Garage Yes
Total Parking Spaces 5
Building
Entry Level One
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 4006003035
Special Listing Condition Standard
Listed by Shamim Khorsand Mashhadi • RE/MAX ESTATE PROPERTIES