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$850,000
Est. payment /mo
0.26 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 25532377
HOA Y/N No
Lot Size 0.261 Acres
Property Description
We are pleased to present for sale an excellent affordable housing development opportunity located in the Metropolitan Southwest neighborhood of Los Angeles, within close proximity to LAX, Sofi Stadium, Gardena, Downtown LA and much more! Current improvements include 4 residential units situated on two separate APN's: APN 6117004005 (City of LA) & APN 6117004027 (Unincorporated LA County), with the addresses 12016-12108 S Figueroa. Zoned R3-1, the combined lot size of 11,362 sqft makes this a prime candidate for a 100% fully affordable ED 1 apartment project (seller has had conversations with architect for a 70 unit fully affordable project). Take advantage of the ED 1 fully affordable program, which provides for expedited processing, higher density, and reduced setbacks through the ED1 Ministerial Approval Process. Property also comes with an alley which allows for maximized design and parking. All 4 units are currently tenant occupied and the property will be sold with tenants in place. Currently monthly income from the units is $3,200/month, collect income while going through entitlements! Buyer to verify all zoning & density regulations with LADBS, LA County, and all relevant departments. Close proximity to major transportation (105 & 110 Freeways). Do not miss this opportunity to build in a centrally located part of LA with tons of upside at an affordable price point.
Location
State CA
County Los Angeles
Area C36 - Metropolitan Southwest
Zoning LAR3
Interior
Fireplace No
Exterior
View Y/N No
View None
Building
New Construction No
Others
Senior Community No
Tax ID 6117004005
Special Listing Condition Standard
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Listed by Daniel Shamooelian • Keller Williams Beverly Hills