Great investment opportunity for builders to develop, investors 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).Prime development opportunity in the vibrant and rapidly evolving 90043 zip code of Los Angeles. The parcel, zoned C2-2D-SP, offers significant potential for mixed-use development, benefiting from its designation as a TOC Tier 3 site. This tier allows for substantial density increases and parking reductions, enhancing the project's feasibility and attractiveness.Key Features include a generous buildable area with a lot size of 7,992 sq. ft. and a buildable square footage of 47,952 sq. ft., this property is ideal for creating a substantial mixed-use development. Density and parking benefits may allow a 70% density increase and a 50% reduction in parking requirements, optimizing the project's scope and efficiency. Situated in a bustling area with easy access to major thoroughfares and public transportation, this property is positioned to capitalize on the growing demand for residential and commercial spaces in Los Angeles. The strategic location ensures a steady influx of potential residents and businesses, making it a highly attract Schedule a Private Showing

Listing courtesy of BRIDGE / RE/MAX ESTATE PROPERTIES

Last checked: Checking… • Last updated Sep 11, 2024 • Source: BRIDGE

MLS# CL24415301 — Report a problem

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