Property Detail

Description

MAJOR PRICE MODIFICAITON, JUST REDUCED PRICE BY $100,000 ONLY FOR SERIOUS BUYERS! Boyle Heights Opportunity: An outstanding opportunity for owner-users, investors, developers, or buildersideal for adding ADUs or pursuing a full ground-up multifamily project. BUILERS & DEVELOPERS: Development Potential: 4.5 units by right (RD1.5) Up to 8 units with TOC Tier 4 (80% bonus) With the newly approved Boyle Heights Community Plan Update designating this area for higher-density use, the site is primed for significant upside. Options include: Retain the front house and replace the rear structure with 23 new units or remove both structures and build up to 8 units under TOC incentives. VALUE ADD: Retain the front house and replace the rear structure with 23 new units. Currently on the property: 2 separate houses and with 2 car garage on the property. Structures at approximately 2,234 square feet. Front Unit is vacant with 3 bedrooms & 1 bath with approx. 1418 square feet Back Unit is tenant occupied with 1 bedroom and 1 bath at approx. 816 square feet and can negotiate to be vacant at escrow closing. Generous lot size of 6,751 square feet and Zoning is RD1.5 LOCATION HIGHLIGHTS: A premier Boyle Heights locationminutes from Downtown LA, the 6th Street Bridge, Cal State LA, major freeways, schools, restaurants, parks, and LAC+USC Hospital & blocks away from the metro line. MOTIVATED SELLERS! LET'S PRESENT YOUR OFFER.