Listing by: Meir Frydman, KW Advisors
0 Beds
n/a Full bath
n/a SqFt
Active
The subject property is a 1,635 SF home on a flat 7,499 SF lot. The zoning is LAR3 - Tier 3 TOC. Located just 0.2 Miles away from the Metro Red Line Station at Beverly and Vermont, tenants can benefit from the great location and numerous eateries nearby. The ownership has conceptual and architectural plans to build 19 units. Of the 19 proposed units, ten are to be 2 bedroom / 2 bathroom units and nine are to be 1 bedroom / 1 bathroom units. Alternatively take advantage of the ED-1 eligibility and build 21 low income housing units with no parking required and save considerable amount of time and construction costs. A savvy investor can also take advantage of the Red Line, focus on an Affordable Housing Project and forgo all parking requirements for the highest and best use of this land and potentially build 21 units. Property currently has a Family Child Care tenant that is paying $5,407.50 per month ($64,890 year) and the term is set to expire at the end of March 2025. Benefit from the income producing tenant while going forward with the planning and development process. As a result of the neighborhood's charm and desirability, there is robust demand for housing and long-term rent growth. The asset's location along with the development incentives are an excellent acquisition for a developer or long term investor.
Property Details | ||
---|---|---|
Price | $1,625,000 | |
Lot Size | 50x150 | |
Lot Size Area | 7502 | |
Lot Size Area Units | Square Feet | |
Acres | 0.1722 | |
Property Type | Land | |
View | City Lights,Hills | |
Geographic Data | ||
Directions | The Subject property is 210 N Berendo Street, Los Angeles CA 90004. The property is south of Beverly Blvd and north of 1st Street, just west of Vermont Avenue. | |
County | Los Angeles | |
Latitude | 34.074885 | |
Longitude | -118.293811 | |
Market Area | C17 - Mid-Wilshire | |
Address Information | ||
Address | 210 N Berendo Street, Los Angeles, CA 90004 | |
Postal Code | 90004 | |
City | Los Angeles | |
State | CA | |
Country | United States | |
Listing Information | ||
Listing Office | KW Advisors | |
Listing Agent | Meir Frydman | |
Buyer Agency Compensation | 2.250 | |
Buyer Agency Compensation Type | % | |
Compensation Disclaimer | The offer of compensation is made only to participants of the MLS where the listing is filed. | |
Special listing conditions | Standard | |
MLS Information | ||
Days on market | 44 | |
MLS Status | Active | |
Listing Date | Mar 27, 2024 | |
Listing Last Modified | May 10, 2024 | |
Tax ID | 5518026009 | |
MLS Area | C17 - Mid-Wilshire | |
MLS # | 24373577 |
This information is believed to be accurate, but without any warranty.