REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 1,300,000
Est. payment /mo
Active
1045 W Vernon Avenue Los Angeles, CA 90037
3,574 SqFt
UPDATED:
09/24/2024 11:56 PM
Key Details
Property Type Other Types
Sub Type OTHER
Listing Status Active
Purchase Type For Sale
Square Footage 3,574 sqft
Price per Sqft $363
MLS Listing ID CL24415361
HOA Y/N No
Lot Size 9,757 Sqft
Acres 0.22
Property Description
Great investment opportunity for a builder to develop, and investor to buy and hold or as an owner-user property. ED1 Eligible. Eligible for new CHIP ordinance that can allow additional 50% density increase and significant parking reductions (See Docs). Unveil the potential of a prime development opportunity located in a bustling area of Los Angeles. Zoned C2-2D-CPIO and designated as a TOC Tier 3 site, this property provides substantial incentives for increased density and reduced parking requirements. The generous lot size and significant allowable floor area make it ideal for developers aiming to construct a high-density project.Key Features:Extensive Buildable Area: The property covers 9,757 sq. ft. with a buildable square footage of 58,542 sq. ft., offering ample space for a significant development. Optimized density and parking efficiency may provide a 70% increase in allowable density and a 50% reduction in parking requirements, enhancing the project's feasibility and cost-effectiveness. It's strategic location offers easy access to major transportation routes and urban amenities, ensuring strong demand and sustained growth potential. Units are comprised of three 1/1's and one 3/1. All information given is deemed reliable but not guaranteed. Buyer and buyers agent should p
Location
State CA
County Los Angeles
Area Listing
Zoning LAR3
Interior
Heating Wall Furnace
Cooling No Air Conditioning
Fireplace No
Exterior
Total Parking Spaces 2
Building
New Construction No
Others
Tax ID 5020025034
© 2024 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Shamim Khorsand Mashhadi • RE/MAX ESTATE PROPERTIES