Property listed by LPT Realty, Inc, Dennis Maynard 877-366-2213
$1,500,000
Prime Mid-City redevelopment, value-add, and commercial retail opportunity on an approximately 10,628 square foot lot zoned C2-1VL-CPIO and located within a Transit Oriented Communities Tier 3 area near the La Cienega/Jefferson Metro E Line station with convenient access to Culver City and Downtown Los Angeles. This site offers flexible paths… Read More for investors seeking a flip, densification upside, or mixed-use project. Current improvements consist of a four-unit building generating income with two units delivered vacant. The current rent roll includes a studio rented at 940 dollars per month, a one-bedroom rented at 1,025 dollars per month, one vacant one-bedroom, and one vacant two-bedroom. The vacant units provide immediate upside through renovations and lease-up while the property continues to produce cash flow. The C2 zoning supports commercial retail or mixed-use development, while the TOC Tier 3 designation offers significant potential for increased residential density, higher floor area ratio, additional height, and reduced parking requirements for qualifying projects. Strong location and zoning create multiple exit strategies for value-add or longer-term redevelopment plays. Drive-by only. Do not go on the property. Do not disturb tenants under any circumstances. Tenants are completely unaware of the sale. No interior or exterior access is permitted without prior written approval from the listing agent. Any unauthorized contact with occupants or entry onto the property will be reported. Buyer and buyer agent to independently verify all zoning, TOC eligibility, development potential, rents, unit mix, lot size, and applicable regulations. Full package available upon request. Read Less
Listing Snapshot
Days Online
17
Last Updated
Beds
4
3/4 Baths
4
Square Ft.
3,443
Lot Size
0.24 Acres
Year Built
1955
MLS Number
26870113
Additional Details
Building
Built in 1955, Living area: 3443.0, 1 building, Levels: One
Cooling
WallWindowUnits
Disclosures
RentControl
Heating
WallFurnace
Income
Gross Income: $117,000, Net Operating Income: $94,650
Lot
0.2444 acres
Parking
None
Taxes
Parcel Number: 5069005009, 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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