List Price: $1.4M

Listing Status: Active

Days on Market: 0

8 Bedrooms · 4 Bathrooms · 4,835 sq ft

Property Type: ResidentialIncome

Year Built: 1921

Lot Size: 7,873 sq ft

Private Pool: Yes

MLS Number: 26857199

About This Property

Rare development opportunity, LAR4-1 zoning, TOC Tier 3 designation, steps from MacArthur Park Metro Station. 7,870 SF rectangular lot. Est. ~33 buildable units with a density bonus, increased FAR, and potentially eliminated parking per AB 2097, subject to City review and independent verification. Existing improvements: 4-unit residential building built 1921 (approx. 4,835 SF). Sold strictly AS-IS. Owner-occupied unit delivered vacant at close of escrow. Three units tenant-occupied and subject to the City of Los Angeles Rent Stabilization Ordinance (RSO) and California's Tenant Protection Act (AB 1482). All three tenancies transfer to the buyer at close of escrow. Unit 3 currently operates as a licensed family daycare home. SB 234 protections may apply. Buyer strongly advised to retain qualified RSO and land use legal counsel prior to making an offer. All development figures are estimates only. Buyer to independently verify all assumptions with a licensed architect and the City of Los Angeles. Seller and listing brokerage make no guarantees regarding development potential, tenant status, or future financial performance. Equal Housing Opportunity.

Listing provided by: Edit Benyi DRE #01918439 562-461-0233 EditBenyiRealtor@gmail.com, Coldwell Banker Envision

Source: CRMLS, MLS #: 26857199

Belmont Brokerage Inc. (DRE #02431308) is not the listing office for this property. We provide buyer representation and consultation. Any “Schedule a Tour” or “Contact” form on this page contacts a Belmont Brokerage agent — not the listing agent above.