9
See all 9 photos
$1,050,000
Est. payment /mo
5 BD
2 BA
2,378 SqFt
Active
5758 11th AVE Los Angeles, CA 90043
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UPDATED:
09/30/2024 06:21 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,378 sqft
Price per Sqft $441
MLS Listing ID 24415401
Bedrooms 5
HOA Y/N No
Year Built 1920
Lot Size 7,479 Sqft
Property Description
Great opportunity for a builder to develop, an investor to buy and hold or as an owner-occupied property. ED1 Eligible. Eligible for new CHIP ordinance that can allow additional 50% density increase and significant parking reductions (See Docs). Unlock the potential of a prime development opportunity located in a thriving area of Los Angeles. Zoned R3-1 and designated as a TOC Tier 4 site, this property offers significant incentives for increased density and reduced parking requirements. The ample lot size and substantial allowable floor area make it an ideal choice for developers seeking to create a high-density, multifamily residential project. Key features include a generous Buildable Area: The property spans 7,479 sq. ft. with a buildable square footage of 22,437 sq. ft., providing ample space for a substantial development. Optimized density and parking efficiency may allow developer to benefit from an 80% increase in allowable density and a 55% reduction in parking requirements, enhancing the project's feasibility and cost-effectiveness. Situated in a vibrant and accessible part of Los Angeles, this property is ideally positioned to attract residents . Its strategic location offers easy access to major transportation routes and urban amenities, ensuring strong demand and sustained growth potential. All information given deemed reliable but not guaranteed. Buyer and buyers agent to perform their own investigation in order to confirm the accuracy of all information including but not limited to lot size, zoning, development opportunities and building restrictions. One of the two units may be delivered vacant at close of escrow. showings will be scheduled by appointment with accepted offer subject to interior inspection. call listing agent for information on current rent roll.
Location
State CA
County Los Angeles
Area Phht - Park Hills Heights
Zoning LAR3
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Appliance Refrigerator
Exterior
Parking Features Assigned
Total Parking Spaces 10
Building
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5006010001
Special Listing Condition Standard
Listed by Shamim Khorsand Mashhadi • RE/MAX ESTATE PROPERTIES
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