$1,300,000
1045 W Vernon AVE Los Angeles, CA 90037
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$1,300,000
Est. payment /mo
4 BA
3,574 SqFt
Active
1045 W Vernon AVE Los Angeles, CA 90037
UPDATED:
09/30/2024 05:52 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,574 sqft
Price per Sqft $363
MLS Listing ID 24415361
HOA Y/N No
Lot Size 9,757 Sqft
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 perform their own investigation to confirm accuracy of information including but not limited to lot size, zoning, building requirements and restrictions. Call listing agent for additional information regarding current rent roll. 3 of the units may be delivered vacant at close of escrow. Showings will be by appointment only with accepted offer subject to interior inspection.
Location
State CA
County Los Angeles
Area C34 - Los Angeles Southwest
Zoning LAR3
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Appliance Refrigerator
Exterior
Parking Features Door-Multi, Garage
Total Parking Spaces 2
Building
Story 3
Entry Level One
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 5020025034
Special Listing Condition Standard
Listed by Shamim Khorsand Mashhadi • RE/MAX ESTATE PROPERTIES
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