Great opportunity to live in one house while renting out the other house. Also a good candidate for development. Eligible for new CHIP ordinance that can allow additional 50% density increase and significant parking reductions (See Docs). ED1 Eligible. This is a premier development opportunity located in a thriving area of Los Angeles. Zoned R3-1 and designated as a TOC Tier 3 site, this property offers substantial incentives for increased density and reduced parking requirements. With a generous lot size and significant allowable floor area, this parcel is ideal for developers aiming to create a high-density, multifamily residential project. Key features include a generous buildable area. The property spans 7,414 sq. ft. with a buildable square footage of 22,242 sq. ft., offering ample space for a substantial development. Optimized density and parking efficiency may benefit builder by offering up to a 70% increase in allowable density and a 50% reduction in parking requirements, enhancing the project's feasibility and profitability. 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 gro Schedule a Private Showing

Listing courtesy of BRIDGE / RE/MAX ESTATE PROPERTIES

Last checked: Checking… • Last updated Dec 16, 2024 • Source: BRIDGE

MLS# CL24415467 — Report a problem

This property is listed in more than one place. See it here.