Price $1,849,000
Status Active
Beds 0
Baths 0 Bath
Home size 3,844 sqft
Lot Size 10,019 sqft
Days on Market 125
Located in Qualified Opportunity Zone - This will allow for additional tax incentives per the Tax Cuts and Jobs Act of 2017. | Zoned R3-1 with a Tier 3 TOC Area - The subject property zoning will allow for additional development density bonuses due to its proximity to public transportation. Los Angeles Measure JJJ further incentivize affordable housing near transit. | Surrounded by Nearby Development Projects - Apartment development projects in close proximity include: 14 units on 432 N. Normandie Ave, 18 units on 226 N. Berendo St, and 15 units on 146 N. Berendo St. | Charming Structure with 3 Separate Buildings - With a 53% upside in rents, the vintage of the property reflects the spirit of Los Angeles. The bright-colored buildings and large lot attracts renters from Koreatown, Silverlake and East Hollywood. | Large Lot with the Ability to Exit as a Development - An investor has the option to renovate the units or exit the investment as a 21-unit apartment development.6 Units with Plans in Place for 21 Apartment Units - Plans are available. Inquire with listing agents. | TOC Tier 3 Building Incentives - Bonuses allow for plans to build 21 apartment units. Additional incentives include reduced parking requirements.
Property Type(s): Residential Income
Last Updated 5/27/2021 Year Built 1922
Community Mid-Wilshire County Los Angeles

Additional Details

AREA Mid-Wilshire
GARAGE Parking Space
LOT 10019 sq ft
STORIES 2
ZONING LAR3

Location

 

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Listing provided by : William James CalDRE: 01734419, James Capital Advisors, Inc.

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