Great opportunity for a builder to develop, an investor 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). Unlock the potential of a prime development opportunity located in a thriving area of Los Angeles. Zoned R3-1 and designated as a TOC Tier 4 site, this property offers significant incentives for increased density and reduced parking requirements. The ample lot size and substantial allowable floor area make it an ideal choice for developers seeking to create a high-density, multifamily residential project. Key features include a generous Buildable Area: The property spans 7,479 sq. ft. with a buildable square footage of 22,437 sq. ft., providing ample space for a substantial development. Optimized density and parking efficiency may allow developer to benefit from an 80% increase in allowable density and a 55% reduction in parking requirements, enhancing the project’s feasibility and cost-effectiveness. Situated in a vibrant and accessible part of Los Angeles, this property is ideally positioned to attract residents . Its strategic location offers easy access to major transportation routes and urban amenities, ensuring strong demand and sustained growth potential. All information given deemed reliable but not guaranteed. Buyer and buyers agent to perform their own investigation in order to confirm the accuracy of all information including but not limited to lot size, zoning, development opportunities and building restrictions. One of the two units may be delivered vacant at close of escrow. showings will be scheduled by appointment with accepted offer subject to interior inspection. call listing agent for information on current rent roll.
Property Details
Price:
$1,050,000
MLS #:
24415401
Status:
Active
Baths:
0
Address:
5758 11th Avenue
Type:
Residential Income
Neighborhood:
phhtparkhillsheights
City:
Los Angeles
Listed Date:
Jul 14, 2024
State:
CA
ZIP:
90043
Lot Size:
7,479 sqft / 0.17 acres (approx)
Year Built:
1920
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Schools
Interior
Appliances
Refrigerator
Cooling
None
Heating
Wall Furnace
Exterior
Parking Features
Assigned
Parking Spots
10.00
Financial
Map
Community
- Address5758 11th Avenue 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.
5758 11th Avenue
Los Angeles, CA
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