- – beds
- – baths
- 12,550 sqft
- 12,550 sqft lot
- $98 per sqft
- – on site
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We are pleased to present a ten (10) unit multifamily redevelopment opportunity located in Los Angeles, California. The subject properties are in a solid South Los Angeles location, east of USC and south of E Adams Boulevard. Built in 1911 and 1913 respectively, this property is a double-lot multifamily property consisting of ten (10) one-bedroom / one-bathroom units total; six (6) standard sized units in the corner lot and four (4) larger units in the adjacent lot. The back of the property features fully parked on-site parking. The property is a very ideal value-add opportunity, priced at 5.48 pro forma GRM and 13.86% pro forma cap rate. This double-lot is situated on a hard signalized corner and is zoned LAR3-1 with 12,550 SF of combined land. This allows for the development of fifteen (15) units by-right, or twenty-four (24) units utilizing tier 1 TOC benefits. The zoning allows for 45' max height and an FAR of 3:1. With TOC, a developer can be granted incentives to build 56' max height and a 4.2:1 FAR. Tenants will enjoy living in close proximity to the University of Southern California (USC) along with its collegiate amenities. The strength of this area is demonstrated by CityView, a development firm that just completed their latest mixed-use complex featuring 296-units with
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Last updated Jan 28, 2025
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MLS# CL23309917 —
The Building
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Building Area Units:Square Feet
Room Dimensions
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Living Area:12550
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Living Area Units:Square Feet
Location
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Directions:The subject properties are in a
The Property
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Property Type:Land
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Property Subtype:Unimproved Land
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Parcel Number:5128004024
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Zoning:LAR3
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Lot Size Area:0.29
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Lot Size Acres:0.29
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Lot Size SqFt:12550
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Lot Size Units:Acres
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View:City Lights
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View:true
Listing Agent
- Contact info:
- Agent phone:
- (818) 212-2735
The Community
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Association:false
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
11/29/23
Nov 29, 2023
|
Sold | BRIDGE | $1,230,000 | -1.6% |
11/17/23
Nov 17, 2023
|
Pending | BRIDGE | $1,250,000 | |
11/13/23
Nov 13, 2023
|
Relisted | BRIDGE | $1,250,000 | -10.7% |