Huge $100,000 price reduction. Sold for land value only making it a great deal plus an opportunity to own a rare and vacant church. Remodel it for use or repurpose it as desired. Rent it during entitlement. With new codes, the property affords an opportunity for redevelopment to a residential income property with tremendous residential density bonuses. R-4 zoning plus the best TOC Tier 1 benefits, low income housing bonuses, and ADU laws, would allow for an excellent opportunity to build a large multi-family residential project. With both street frontage and alley access along the whole side of the property, makes it more conducive for various development choices and opportunities. Perhaps a 12 unit condo project with 12 separate private tandem 2 car garages with access along the alley? Check with the city and your architect and explore the myriad of opportunities this great property offers and for all the details related to redeveloping it to its highest and best use with the greatest density allowable with all bonuses and things considered. A new law, signed by Gov. Gavin Newsom, rezones land owned by religious institutions, such as churches, mosques, and synagogues, to allow for affordable housing. Starting in 2024, they can bypass most local permitting and environmental review rules that can be costly and lengthy. See SB 4. Extraordinary opportunity for a scarce, unique, and desirable property along a major thoroughfare for a very high density development. Sold in its present "as is" condition. No warranties of any kind or representations made regarding the property whatsoever. Buyer to conduct their own independent investigations. Standard sale. No court approval necessary. Property will be delivered tenant free at close of escrow. Because it is being sold for land value only, go directly to the property at any time and view it from the street and alley. Do not enter the property or disturb the tenant. Interior of property will be shown only with proof of funds provided along with loan pre-approval letter or letter of credit if financing is needed. If being purchased for church purposes, the buyer must have adequate funds/financing for both purchase and rehab.
Property Details
Price:
$495,000
MLS #:
24392719
Status:
Active
Baths:
0
Address:
8411 S San Pedro Street 6030014016
Type:
Land
Neighborhood:
c37metropolitansouth
City:
Los Angeles
Listed Date:
May 15, 2024
State:
CA
ZIP:
90003
Lot Size:
5,168 sqft / 0.12 acres (approx)
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- Address8411 S San Pedro Street 6030014016 Los Angeles CA
- AreaC37 – Metropolitan South
- CityLos Angeles
- CountyLos Angeles
- Zip Code90003
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Courtesy of David Bond. 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.
8411 S San Pedro Street 6030014016
Los Angeles, CA
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