Property listed by Lyon Stahl Investment Real Estate, Inc., Michael Monempour 310-425-9838
$4,500,000
* Two Properties Being Sold - 110 S. Kings Rd ( APN:5511-016-003) and 116 S. Kings Rd (APN : 5511-016-004) - Must be Sold Together. The Offering is a unique opportunity to acquire a rare double lot spanning 14,000SF, zoned LA-R3 and eligible for Tier 2 TOIA (Transit Oriented Incentive… Read More Area).This prime location is nestled in one of Los Angeles' most sought-after rental markets, Beverly Grove, adjacent to the prestigious neighborhoods of Beverly Hills and West Hollywood. This exceptional offering is ideal for developers looking to leverage a covered land play. With the potential to construct up to 44 units utilizing the CHIP(Citywide Housing Incentive Program), or to pursue an ED1 Section 8 Low Income Housing project eligible for Tier 3 of HACLA, the possibilities are abundant. Currently, the properties feature six townhomes with an attractive unit mix: (2) 3BD/2BA and (4) 2BD/2BA units. Developers can offset carrying costs by earning approximately $19,500 per month while securing permits for redevelopment. Additionally, tenants will benefit from an impressive 90 Walk Score! Conveniently situated off 3rd Street, this location offers easy access to a myriad of upscale dining, shopping, grocery stores, and entertainment options. Read Less
Listing Snapshot
Days Online
27
Last Updated
Property Type
Other
Beds
14
Square Ft.
8,286
Lot Size
0.33 Acres
Year Built
1936
MLS Number
25490213
30 Days Snapshot Of 90048
$3,770k
+43%
(avg) sold price
14
+16%
homes sold
110
+14%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1936, Building area total: 8,286, Levels: Two, Living area: 8286, 2 stories, 2 buildings
Cooling
None
Heating
None
Income
Gross income: $240,887, Net operating income: $152,211
Lot
0.3254 acres, 14,176 square feet, Size: 14,176
Parking
12 totals parking, DrivewayDownSlopeFromStreet
Property
Zoning: LAR3
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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