We are pleased to present 8931 Ramsgate Ave, a VACANT duplex located on 7,063 SF of LAR3 Tier 3 TOC zoned land! With the existing duplex (both 2 bed + 1 bath) being 100% vacant, there are numerous exit strategies that include the following: 1) Build 16 units + 4 ADUs utilizing the current RTI plans, 2) Renovate the existing Duplex + build new ADUs, 3) Utilize ED1 to construct 100% affordable housing project, or 4) Multiple duplex style build yield 4-6 large units. Located in the heart of Westchester, tenants will have ease of access to the 405FWY, numerous employment opportunities, Loyola Marymount University, Venice Beach, Santa Monica, El Segundo, and LAX. Ownership has plans in place for a market rate 16-unit + 4 ADU development that can be included in a sale. As a 100% affordable ED1 development, there's potential for up to 36 units with no parking requirements and an affordable stick on grade type construction. As a value-add project, a new owner can perform renovations on the existing units, both 2 bed + 1 bath units, and add additional ADUs by converting the existing rear garage. Buyer shall complete their own due diligence to determine the development potential.
|
DAYS ON MARKET
|
221
|
LAST UPDATED
|
11/4/2024
|
|
YEAR BUILT
|
1950
|
COMMUNITY
|
Westchester
|
|
COUNTY
|
Los Angeles
|
STATUS
|
Active
|
|
PROPERTY TYPE(S)
|
Residential Income
|
|
|
|
Prior to Jul 9, '24
|
$1,350,000
|
|
Jul 9, '24 - Sep 3, '24 |
$1,295,000
|
|
Sep 3, '24 - Nov 4, '24 |
$1,250,000
|
| Nov 4, '24 - Today |
$1,195,000 |
| AREA |
Westchester |
| GARAGE |
Garage, Yes |
| LOT |
7063 sq ft |
| PARKING |
Garage |
| STORIES |
1 |
| ZONING |
LAR3 |
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Listed with Kidder Mathews of California, Inc.
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. as of 12/28/24 5:11 PM PST 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
This IDX solution is (c) Diverse Solutions 2024.
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