Description
We are pleased to present for a sale a prime LAR3 development opportunity in the Westlake/Historic Filipinotown neighborhood of Los Angeles! Located just minutes away from the hustle and bustle of Sunset Blvd, this ~7,000 sqft lot + Alley offers a developer the opportunity to build 9 units by right or up to 16 units using TOC Incentives. Lot dimensions are 50 by 140 sqft, zoned R3-1, TOC Tier 2, and comes with an alley (Optimal for design efficiency and parking access!). Subject property is currently an owner occupied single family residence that will be delivered VACANT, meaning no dealing with rent stabilization (RSO), tenant relocation, or new onerous SB 8 regulations! Property has received "preliminary approval" from Housing department that the site will be exempt from SB 8 low income replacement requirement!! The site may also be a great opportunity for fourplex or small lot subdivision. The site lies in close proximity to Echo Park, Silver Lake, Koreatown, DTLA, and much more! Lots of new development in this pocket! Do not miss this opportunity to build in a high rental demand area undergoing gentrification close to restaurants, bars, shopping, and transportation. Buyer to verify all zoning regulations with LADBS. Home to be sold As-Is. Cross listed with MLS: 22-169731. Contact listing agent for more details!
Location
Listing Agent: Daniel Shamooelian 01984269 Courtesy of: BRC Advisors- BH "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.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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Updated: 10th August, 2022 9:56 AM (UTC)
