Great opportunity to live in one house while renting out the other house. Also a good candidate for development. Eligible for new CHIP ordinance that can allow additional 50% density increase and significant parking reductions (See Docs). ED1 Eligible. This is a premier development opportunity located in a thriving area of Los Angeles. Zoned R3-1 and designated as a TOC Tier 3 site, this property 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 aiming to create a high-density, multifamily residential project. Key features include a generous buildable area. The property spans 7,414 sq. ft. with a buildable square footage of 22,242 sq. ft., offering ample space for a substantial development. Optimized density and parking efficiency may benefit builder by offering up to a 70% increase in allowable density and a 50% reduction in parking requirements, enhancing the project's feasibility and profitability. 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 here is deemed reliable but not guaranteed. Buyer and buyers agent should perform their own investigation in order to confirm the accuracy of the information including but not limited to lot size, zoning, building requirements and restrictions. One unit may be delivered vacant at close of escrow. call listing agent for information regarding current rent roll. The remaining tenant will remain after close of escrow. Call listing agent for more information regarding the current rent roll. Showings will be scheduled by appointment with accepted offer subject to interior inspection.
|
DAYS ON MARKET
|
110
|
LAST UPDATED
|
10/4/2024
|
|
YEAR BUILT
|
1951
|
COMMUNITY
|
West Los Angeles
|
|
COUNTY
|
Los Angeles
|
STATUS
|
Active
|
|
PROPERTY TYPE(S)
|
Residential Income
|
|
|
|
Prior to Aug 12, '24
|
$2,400,000
|
|
Aug 12, '24 - Sep 10, '24 |
$2,095,000
|
| Sep 10, '24 - Today |
$1,999,000 |
| AIR |
None |
| APPLIANCES |
Refrigerator |
| AREA |
West Los Angeles |
| GARAGE |
Driveway |
| HEAT |
Wall Furnace |
| LOT |
7415 sq ft |
| PARKING |
Driveway |
| STORIES |
1 |
| ZONING |
LAR3 |
We respect your online privacy and will never spam you. By submitting this form with your telephone number
you are consenting for Ben
Salem to contact you even if your name is on a Federal or State
"Do not call List".
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 10/31/24 11:36 PM PDT 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.
Save favorite listings, searches, and get the latest alerts
Save your favorite listings, searches, and receive the latest listing alerts
Twitter
Facebook
Email