Property listed by Coldwell Banker Envision, Edit Benyi 562-461-0233
$1,400,000
Rare development opportunity, LAR4-1 zoning, TOC Tier 3 designation, steps from MacArthur Park Metro Station. 7,870 SF rectangular lot. Est. ~33 buildable units with a density bonus, increased FAR, and potentially eliminated parking per AB 2097, subject to City review and independent verification. Existing improvements: 4-unit residential building built 1921… Read More (approx. 4,835 SF). Sold strictly AS-IS. Owner-occupied unit delivered vacant at close of escrow. Three units tenant-occupied and subject to the City of Los Angeles Rent Stabilization Ordinance (RSO) and California's Tenant Protection Act (AB 1482). All three tenancies transfer to the buyer at close of escrow. Unit 3 currently operates as a licensed family daycare home. SB 234 protections may apply. Buyer strongly advised to retain qualified RSO and land use legal counsel prior to making an offer. All development figures are estimates only. Buyer to independently verify all assumptions with a licensed architect and the City of Los Angeles. Seller and listing brokerage make no guarantees regarding development potential, tenant status, or future financial performance. Equal Housing Opportunity. Read Less
Listing Snapshot
Days Online
129
Last Updated
Beds
8
3/4 Baths
4
Square Ft.
4,835
Lot Size
0.18 Acres
Year Built
1921
MLS Number
26857199
Additional Details
Building
Built in 1921, Living area: 4835.0, 1 building, 2 stories, Levels: Two
Cooling
None
Disclosures
RentControl, TrustConservatorship
Heating
WallFurnace
Income
Gross Income: $25,092, Net Operating Income: $15,092
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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