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Great opportunity for a builder to develop, an investor to buy and hold or as an owner-user property. Introducing an exceptional development opportunity. Eligible for new CHIP ordinance that can allow additional 50% density increase and significant parking reductions (See Docs). Located in a prime area of Los Angeles. Zoned R3-1, this property offers a substantial buildable area, making it an ideal site for a multifamily residential project. With a generous lot size and significant allowable floor area, this parcel is perfect for developers looking to maximize their investment in a highly desirable location. Key features include ample buildable space: The property spans 7,753 sq. ft. with a buildable square footage of 23,259 sq. ft., providing a solid foundation for a substantial development. Located in a vibrant and sought-after part of Los Angeles, this property is ideally positioned to attract residents. Its strategic location offers easy access to major transportation routes, shopping, dining, west side beaches and other urban amenities, ensuring strong demand and sustained growth potential. This 6 unit building consisting of five 1 bedroom/1 baths and one 3 bedroom/1 bath. Two of the 1/1 units and the 3/1 bath unit may be delivered vacant at close of escrow. The remaining three 1/1's have tenants, these units will not be delivered vacant. There is copper plumbing vertical, horizontal and main line, Roof is about 15 years old. Great location close to Marina del Rey, Venice and Santa Monica beaches. . Information provided is deemed reliable but not guaranteed. Buyer and buyers agent to verify all information given by performing their investigations to confirm all information including but not limited to lot size, zoning and building restrictions. Showings will be scheduled by appointment with an accepted offer subject to interior inspection. Call listing agent for information regarding the current rent roll.
Property Type(s):
Residential Income
| Last Updated | 10/14/2024 | Year Built | 1951 |
|---|---|---|---|
| Community | Palms - Mar Vista | County | Los Angeles |
Price History
| Prior to Sep 10, '24 | $2,195,000 |
|---|---|
| Sep 10, '24 - Oct 14, '24 | $1,999,000 |
| Oct 14, '24 - Today | $2,000,000 |
Additional Details
| AIR | None |
|---|---|
| APPLIANCES | Refrigerator |
| AREA | Palms - Mar Vista |
| GARAGE | Driveway, Garage, Tandem, Yes |
| HEAT | Wall Furnace |
| LOT | 7756 sq ft |
| LOT DIMENSIONS | 50x155 |
| PARKING | Driveway,Garage,Tandem |
| STORIES | 1 |
| ZONING | LAR3 |
Location
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Listed with RE/MAX ESTATE PROPERTIES
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This IDX solution is (c) Diverse Solutions 2024.
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