Property listed by Keller Williams Beverly Hills, Adam Shamooelian 310-432-6400
$2,750,000
We are pleased to present 1470 W. Adams Blvd, a premier value-add and development opportunity, located in the highly desirable DPS Patrol Zone, and walking distance to the University of Southern California (USC). Situated just 0.6 miles from the USC campus, this 12-bedroom, 4,313-square-foot home sits on an oversized 12,765-square-foot… Read More lot with LAC2 zoning and Tier 3 TOC designation. This historic residence is nestled within the Adams-Normandie Historic Preservation Overlay Zone (HPOZ), offering a unique blend of classic charm and modern potential. Given the historic preservation restrictions on the existing structure, a strategic development plan would involve renovating and subdividing the current 12-bedroom home into four units while utilizing the expansive 4,500-square-foot rear yard (75' x 60') for additional construction. By leveraging by-right development rights and ADUs, the site could realistically accommodate 15-20 units.Additionally, there is strong potential to position the property as an affordable housing investment. A viable strategy would be to convert the existing structure into four units while constructing a four-story apartment building in the rear. This approach aligns with LA's desperate need for additional housing and could allow developers to take advantage of various incentives and funding opportunities for affordable housing projects.Located in the heart of a rapidly developing corridor, the property is adjacent to two newly built large-scale multifamily projects and within walking distance of a Ralphs grocery-anchored retail center. Beyond its proximity to USC, the location offers easy access to the Metro Expo Line station and Exposition Park, home to the LA Coliseum, BMO Stadium, and the upcoming George Lucas Museum of Narrative Art. Additionally, with a short 10-minute commute to Downtown Los Angeles and convenient access to the 10 Freeway, the property is ideally positioned for strong rental demand and long-term growth. All development plans should be verified with local zoning and planning authorities. Please contact the listing agent for a feasibility study on the development potential of the site, helping buyers evaluate the highest and best use for the property. Property to be delivered vacant at the close of escrow. Read Less
Listing Snapshot
Days Online
48
Last Updated
Property Type
Other
Beds
12
Square Ft.
4,313
Lot Size
0.29 Acres
Year Built
1895
MLS Number
25499209
30 Days Snapshot Of 90007
$1,000k
+8%
(avg) sold price
1
0%
home sold
64
+72%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1895, Building area total: 4,313, Levels: MultiSplit, Living area: 4313, 1 building
Lot
0.2931 acres, 12,769 square feet, Size: 12,769
Parking
10 totals parking
Property
Zoning: LAC2
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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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