Great investment opportunity for builders, investors and owner-users. Buy and hold or develop. ED1 Eligible. Eligible for new CHIP ordinance that can allow additional 50% density increase and significant parking reductions (See Docs). 3 of 4 units may be delivered vacant. Units mix is two 1/1 and two 2/1. An exceptional development opportunity. This R3-1 zoned property, designated as a TOC Tier 3 site, offers substantial incentives for increased density and reduced parking requirements. With a generous lot size and significant allowable floor area, this parcel is ideal for developers looking to create a high-density, multifamily residential project in a promising area of Los Angeles.Key Features include ample Buildable Space: The property spans 11,384 sq. ft. with a buildable square footage of 34,152 sq. ft., offering substantial room for development. Optimized Density and Parking Efficiency: Benefit from a 70% increase in allowable density and a 50% reduction in parking requirements, enhancing the project's feasibility and profitability. Its proximity to major transportation routes and urban amenities ensures strong demand and long-term growth potential, making it a highly attractive investment opportunity. All information provided deemed reliable but not guaranteed. Buyer and buyers agent to investigate all building and zoning requirements including but not limited to lot size, to their satisfaction. Call listing agent for additional details on current rent roll.
|
DAYS ON MARKET
|
138
|
LAST UPDATED
|
9/10/2024
|
|
YEAR BUILT
|
1924
|
COMMUNITY
|
Park Hills Heights
|
|
COUNTY
|
Los Angeles
|
STATUS
|
Active
|
|
PROPERTY TYPE(S)
|
Residential Income
|
|
|
|
Prior to Sep 10, '24
|
$1,500,000
|
| Sep 10, '24 - Today |
$1,399,000 |
| AIR |
None |
| APPLIANCES |
Refrigerator |
| AREA |
Park Hills Heights |
| GARAGE |
Covered, Driveway |
| HEAT |
Wall Furnace |
| LOT |
0.26 acre(s) |
| PARKING |
Covered,Driveway |
| STORIES |
1 |
| ZONING |
LAR3 |
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Listed with RE/MAX ESTATE PROPERTIES
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 11/29/24 6:41 AM 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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