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$1,600,000
Est. payment /mo
4,722 SqFt
UPDATED:
09/11/2024 10:31 AM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4,722 sqft
Price per Sqft $338
MLS Listing ID CL24415269
HOA Y/N No
Year Built 1946
Lot Size 0.260 Acres
Acres 0.26
Property Description
Great investment opportunity for a builder to develop, an investor 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). This premier development opportunity is zoned R3-1, and located within a TOC Tier 3 designation, offers substantial incentives for increased density and reduced parking requirements. With a sizable lot and significant allowable floor area, this parcel is ideal for developers aiming to create a high-density, multifamily residential project in a thriving area of Los Angeles. Key Features include a generous Buildable Area which covers 11,343 sq. ft. with a buildable square footage of 34,029 sq. ft., providing ample space for a substantial development. With optimized density and parking efficiency you may Benefit from a 70% increase in allowable density and a 50% reduction in parking requirements, enhancing the project's feasibility and cost-effectiveness. Its strategic location offers easy access to major transportation routes and urban amenities, ensuring strong demand and sustained growth potential. All information deemed reliable but not guaranteed. Buyer and buyers agent to perform their own investigation regarding zoning, pla
Location
State CA
County Los Angeles
Area Listing
Zoning LAR3
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Building
New Construction No
Others
Tax ID 4006020029
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Listed by Shamim Khorsand Mashhadi • RE/MAX ESTATE PROPERTIES
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