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Great investment opportunity for a developer to build, an investor to buy and hold or as an owner-occupied unit. Prime development opportunity located in a desirable area of Los Angeles. Eligible for new CHIP ordinance that can allow additional 50% density increase and significant parking reductions (See Docs). Zoned R3-1-O and designated as a TOC Tier 3 site, this property offers substantial incentives for increased density and reduced parking requirements. With significant buildable area and favorable height and density allowances, this site is ideal for developers looking to create a high-density, multifamily residential project.Key Features:Ample Buildable Area: The property spans 7,048 sq. ft. with a buildable square footage of 21,144 sq. ft., providing a solid foundation for a substantial development. Optimized density and parking efficiency may include up to a 70% increase in allowable density and a 50% reduction in parking requirements, enhancing project feasibility and profitability. Situated in a dynamic and accessible part of Los Angeles, 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 is deemed reliable but not guaranteed. Buyer and buyers agent to perform their own investigation including but not limited to lot size, zoning and planning, building restrictions. This property is tenant occupied and as such, being sold with tenants in place. Contact listing agent for more information on current rent roll.
Property Type(s):
Residential Income
| Last Updated | 9/10/2024 | Year Built | 1914 |
|---|---|---|---|
| Community | Mid Los Angeles | County | Los Angeles |
Price History
| Prior to Sep 10, '24 | $1,400,000 |
|---|---|
| Sep 10, '24 - Today | $1,299,000 |
Additional Details
| AIR | None |
|---|---|
| APPLIANCES | Refrigerator |
| AREA | Mid Los Angeles |
| GARAGE | Driveway, One Space |
| HEAT | Wall Furnace |
| LOT | 7048 sq ft |
| PARKING | Driveway,One Space |
| STORIES | 2 |
| STYLE | Craftsman |
| 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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