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 attractive investment for developers. All information given is deemed reliable but not guaranteed. Buyer and buyers agent to perform their own investigation to verify zoning, planning and building possibilities, including but not limited to lot size, to their satisfaction. Call listing agent for additional information on the current rent roll. This property may be delivered vacant at close of escrow. An additional 3/2 unit is under construction with permits, bringing total number of units to three 3/2’s. Property will be shown by appointment with accepted offer subject to interior inspection.
Property Details
Price:
$1,100,000
MLS #:
24415301
Status:
Active
Baths:
0
Address:
3321 W 63rd Street
Type:
Residential Income
Neighborhood:
phhtparkhillsheights
City:
Los Angeles
Listed Date:
Jul 14, 2024
State:
CA
ZIP:
90043
Lot Size:
7,992 sqft / 0.18 acres (approx)
Year Built:
1999
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Schools
Interior
Appliances
Refrigerator
Cooling
None
Heating
Wall Furnace
Exterior
Parking Features
Parking Space
Parking Spots
5.00
Financial
Map
Community
- Address3321 W 63rd Street Los Angeles CA
- AreaPHHT – Park Hills Heights
- CityLos Angeles
- CountyLos Angeles
- Zip Code90043
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Courtesy of RE/MAX ESTATE PROPERTIES. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
3321 W 63rd Street
Los Angeles, CA
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