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We are excited to present a rare opportunity to acquire a prime 6,632 SF lot in the prestigious Hancock Park neighborhood. Zoned LAR3 with a Tier 3 TOC (70% density bonus), this site allows for the development of 8 units by-right or up to 13 units with the use of TOC incentives. Currently, the lot is home to a 6-bedroom, 4-bathroom single-family residence, which can be delivered either vacant or tenant-occupied. The property is currently rented by the bedroom to young professionals, generating a gross income of approximately $8,000 per month. The entire home has been extensively updated, featuring a fully rewired electrical system with a new 200-amp panel, brand-new plumbing, new roof, dual-pane windows, waterproof hardwood flooring, and beautifully remodeled bedrooms & bathrooms. Financials are based on proforma market rents of $10,000/month.
Property Type(s):
Residential Income
| Last Updated | 3/5/2025 | Year Built | 1919 |
|---|---|---|---|
| Community | Hancock Park-Wilshire | County | Los Angeles |
Additional Details
| APPLIANCES | Dishwasher, Disposal, Dryer, Refrigerator, Trash Compactor, Vented Exhaust Fan, Washer |
|---|---|
| AREA | Hancock Park-Wilshire |
| GARAGE | Gated, Private |
| HEAT | Central |
| INTERIOR | Ceiling Fan(s) |
| LOT | 6634 sq ft |
| LOT DIMENSIONS | 50x132 |
| PARKING | Gated,Private |
| STORIES | 2 |
| ZONING | LAR3 |
Location
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Listed with KW SELA
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.
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