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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.
Property Type(s):
Residential Income
| Last Updated | 10/4/2024 | Year Built | 1951 |
|---|---|---|---|
| Community | West Los Angeles | County | Los Angeles |
Price History
| Prior to Aug 12, '24 | $2,400,000 |
|---|---|
| Aug 12, '24 - Sep 10, '24 | $2,095,000 |
| Sep 10, '24 - Today | $1,999,000 |
Additional Details
| AIR | None |
|---|---|
| APPLIANCES | Refrigerator |
| AREA | West Los Angeles |
| GARAGE | Driveway |
| HEAT | Wall Furnace |
| LOT | 7415 sq ft |
| PARKING | Driveway |
| 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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