Property listed by Keller Williams Beverly Hills, Daniel Shamooelian 310-432-6400
$850,000
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… Read More 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. Read Less
Listing Snapshot
Days Online
0
Last Updated
Property Type
Other
Lot Size
0.26 Acres
MLS Number
25532377
30 Days Snapshot Of 90061
$634k
+7%
(avg) sold price
6
+20%
homes sold
113
+71%
(avg) days on market
Snapshot
Area Map
Additional Details
Lot
0.2608 acres, 11,362 square feet, Size: 11,362
Property
Zoning: LAR3, None
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