Great 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). Unlock the potential of a prime development opportunity located in a thriving area of Los Angeles. Zoned R3-1 and designated as a TOC Tier 4 site, this property offers significant incentives for increased density and reduced parking requirements. The ample lot size and substantial allowable floor area make it an ideal choice for developers seeking to create a high-density, multifamily residential project. Key features include a generous Buildable Area: The property spans 7,479 sq. ft. with a buildable square footage of 22,437 sq. ft., providing ample space for a substantial development. Optimized density and parking efficiency may allow developer to benefit from an 80% increase in allowable density and a 55% reduction in parking requirements, enhancing the project's feasibility and cost-effectiveness. Situated in a vibrant and accessible part of Los Angeles, this property is ideally positioned to attract residents . Its strategic location offers easy access to major transportation routes and urban amenities, ensuring strong demand and sustained growth potential. All information given deemed reliable but not guaranteed. Buyer and buyers agent to perform their own investigation in order to confirm the accuracy of all information including but not limited to lot size, zoning, development opportunities and building restrictions. One of the two units may be delivered vacant at close of escrow. showings will be scheduled by appointment with accepted offer subject to interior inspection. call listing agent for information on current rent roll.
|
DAYS ON MARKET
|
138
|
LAST UPDATED
|
9/30/2024
|
|
YEAR BUILT
|
1920
|
COMMUNITY
|
Park Hills Heights
|
|
COUNTY
|
Los Angeles
|
STATUS
|
Active
|
|
PROPERTY TYPE(S)
|
Residential Income
|
|
|
| AIR |
None |
| APPLIANCES |
Refrigerator |
| AREA |
Park Hills Heights |
| GARAGE |
Assigned |
| HEAT |
Wall Furnace |
| LOT |
7479 sq ft |
| PARKING |
Assigned |
| STORIES |
2 |
| 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 6:47 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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