Listing by: Casey Lins, Kidder Mathews of California, Inc.

0 Beds

n/a Full bath

n/a SqFt

Pending

PRICE REDUCED! We are pleased to present a 100% vacant land development opportunity located in the heart of West Adams! Totaling +/-9,180sf of LARD1.5 Tier 3 TOC land, a new owner has the ability to capitalize on various exit strategies that include the following: 1) Current RTI plans for a market rate 10-unit + 2 ADU multi-family for- rent building, 2) 100% affordable housing up to 50 units (feasibility study available on request), 3) Subdivision for 4-6 homes, or 4) Multiple duplex style build yielding 6-10 large units. Located just steps away from the trendy Jefferson Blvd corridor that includes numerous amenities such as Highly Likely (local cafe) and the soon-to-be Maydan Market (food hall) that includes Michelin Star connected restaurant Compass Rose. Being just 0.1 miles away, a 3-minute walk, from the Farmdale Metro Rail Line station, tenants have the ability to easily access Santa Monica, Culver City, USC, LAX, and Downtown LA. Ownership has plans in place for a market rate 10-unit + 2 ADU development that can be included in a sale. As a 100% affordable ED1 development, there's potential for up to 50 units with no parking requirements and an affordable stick on grade type construction. With its Opportunity Zone location, the property is well positioned for a developer seeking a well-located property with high rental demands that is nearby significant employment opportunities. Buyer shall complete their own due diligence to determine the development potential.

Property Details
Price $1,750,000
Lot Size Area 9180
Lot Size Area Units Square Feet
Acres 0.2107
Property Type Land
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Geographic Data
Directions Google Maps: 3434 Chesapeake Ave. Los Angeles, CA 90016
County Los Angeles
Latitude 34.024542
Longitude -118.344664
Market Area PHHT - Park Hills Heights
Address Information
Address 3434 Chesapeake Avenue, Los Angeles, CA 90016
Postal Code 90016
City Los Angeles
State CA
Country United States
Listing Information
Listing Office Kidder Mathews of California, Inc.
Listing Agent Casey Lins
Special listing conditions Standard
MLS Information
Days on market 135
MLS Status Pending
Listing Date May 21, 2024
Listing Last Modified Nov 5, 2024
Tax ID 5046009019
MLS Area PHHT - Park Hills Heights
MLS # 24394841

This information is believed to be accurate, but without any warranty.
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