Description
Desirable Opportunity to Redevelop Up to 25-Unit Apartment or to Build ADUs | Seven Single-Story Units on Large 11,333-Square Foot Lot | Tremendous Value-Add Opportunity - Approximately 84% in Rental Upside | 9.87% Pro-Forma CAP Rate & 7.85 Pro-Forma GRM | Rare LAR3 TOC Tier 3 Zoning - Outstanding Development Potential in Strong Hyde Park Apartment Market | TOC Tier 3 High Density Bonus Allowance with No Subterranean Parking Required & Only 0.5 Parking Spaces Per Unit | Vacant Room (Former Laundry Room) & Total of 6 Garages - Potential to be Converted into ADUs (Buyer to Verify) | Close Proximity to Fairview Heights Station and Hyde Park Station of the Crenshaw/LAX Metro Transit Line (K Line) | Located 2 Miles from SoFi Stadium & The Forum and Approximately 2.5 Miles from Baldwin Hills & Intuit Dome (NBA Clippers Arena) | Offered at $163,571 Per Unit & $270 Per SF
-
8BEDS
-
0.26ACRES
-
0BATHS
-
01/2 BATHS
-
4,248SQFT
-
$270$/SQFT
School Ratings & Info
Description
Desirable Opportunity to Redevelop Up to 25-Unit Apartment or to Build ADUs | Seven Single-Story Units on Large 11,333-Square Foot Lot | Tremendous Value-Add Opportunity - Approximately 84% in Rental Upside | 9.87% Pro-Forma CAP Rate & 7.85 Pro-Forma GRM | Rare LAR3 TOC Tier 3 Zoning - Outstanding Development Potential in Strong Hyde Park Apartment Market | TOC Tier 3 High Density Bonus Allowance with No Subterranean Parking Required & Only 0.5 Parking Spaces Per Unit | Vacant Room (Former Laundry Room) & Total of 6 Garages - Potential to be Converted into ADUs (Buyer to Verify) | Close Proximity to Fairview Heights Station and Hyde Park Station of the Crenshaw/LAX Metro Transit Line (K Line) | Located 2 Miles from SoFi Stadium & The Forum and Approximately 2.5 Miles from Baldwin Hills & Intuit Dome (NBA Clippers Arena) | Offered at $163,571 Per Unit & $270 Per SF
Based on information from California Regional Multiple Listing Service, Inc. as of 2023-06-01T15:35:57.457. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Beach City Brokers | BCB Premier Estates | The Miller Group. Licensed in the State of California, USA.