Description

Great opportunity for a builder to develop, an investor to buy and hold or as an owner-occupied property. ED1 Eligible. Eligible for new CHIP ordinance that can allow additional 50% density increase and significant parking reductions (See Docs). Unlock the potential of a prime development opportunity located in a thriving area of Los Angeles. Zoned R3-1 and designated as a TOC Tier 4 site, this property offers significant incentives for increased density and reduced parking requirements. The ample lot size and substantial allowable floor area make it an ideal choice for developers seeking to create a high-density, multifamily residential project. Key features include a generous Buildable Area: The property spans 7,479 sq. ft. with a buildable square footage of 22,437 sq. ft., providing ample space for a substantial development. Optimized density and parking efficiency may allow developer to benefit from an 80% increase in allowable density and a 55% reduction in parking requirements, enhancing the project’s feasibility and cost-effectiveness. 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 given deemed reliable but not guaranteed. Buyer and buyers agent to perform their own investigation in order to confirm the accuracy of all information including but not limited to lot size, zoning, development opportunities and building restrictions. One of the two units may be delivered vacant at close of escrow. showings will be scheduled by appointment with accepted offer subject to interior inspection. call listing agent for information on current rent roll.