Address: |
view address Los Angeles, CA 90004 Map Location |
Features: | Furnished, Multi-level |
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Bedrooms: | 3 | Bathrooms: | 2 (full: 2) |
Square Feet: | 1,635 sq.ft. | Lot Size: | 7502.0 |
Year Built: | 1921 | Views: | City |
Property Type: | Single Family Residence | County: | Los Angeles |
Zoning: | LAR3 | List Date: | 2024-04-03 |
Listing Number: | 24373603 | Days on market: | 41 |
The subject property is a 1,635 SF home on a flat 7,499 SF lot. The zoning is LAR3 - Tier 3 TOC. Located just 0.2 Miles away from the Metro Red Line Station at Beverly and Vermont, tenants can benefit from the great location and numerous eateries nearby. The ownership has conceptual and architectural plans to build 19units. Of the 19 proposed units (17 units plus 2 ADU's), ten are to be 2 bedroom / 2 bathroom units and nine are tobe 1 bedroom / 1 bathroom units. Alternatively take advantage of the ED-1 eligibility and build 21 low income housing units (17 units plus 4 ADU's) with no parking required and save considerable amount of time and construction costs.A savvy investor can also take advantage of the Red Line, focus on an Affordable Housing Project and forgo all parking requirements for the highest and best use of this land and potentially build 21 units. Property currently has a Family Child Care tenant that is paying $5,407.50 per month ($64,890 year) and the term is set to expire at the end of March 2025. Benefit from the income producing tenant while going forward with the planning and development process.As a result of the neighborhood's charm and desirability, there is robust demand for housing and long-term rent growth. The asset's location along with the development incentives are an excellent acquisition for a developer or long term investor.
Laundry Features: | See Remarks | Laundry: | Yes |
Pool Features: | None | Spa Features: | None |
Spa: | Yes |
Parking features: | Driveway |
Views: | City Lights, Hills, City | Has View: | Yes |
Special Listing Conditions: | Standard |
Year Built: | 1921 | Levels: | One |
Stories: | 1 |
Lot Dimensions: | 7502.0 | Zoning: | LAR3 |
Property Condition: | Updated/Remodeled |
Building Area total: | 1635.0 |
Community information and market data Powered by Onboard Informatics. Copyright ©2024 Onboard Informatics. Information is deemed reliable but not guaranteed.
This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person’s eligibility to attend a school or to use or benefit from other city, town or local services.
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Community information and market data Powered by Onboard Informatics. Copyright ©2024 Onboard Informatics. Information is deemed reliable but not guaranteed.
This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person’s eligibility to attend a school or to use or benefit from other city, town or local services.
|
Community information and market data Powered by Onboard Informatics. Copyright ©2024 Onboard Informatics. Information is deemed reliable but not guaranteed.
This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person’s eligibility to attend a school or to use or benefit from other city, town or local services.