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$975,000
Est. payment /mo
5,100 Sqft Lot
UPDATED:
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 26926753
HOA Y/N No
Lot Size 5,100 Sqft
Property Description
RTI 4-UNIT DEVELOPMENT OPPORTUNITY IN PRIME WEST ADAMS! Exceptional opportunity to acquire a shovel-ready, Ready-to-Issue (RTI) fourplex development project featuring approximately 5,315 SF of buildable area and a highly desirable unit mix of three 3-bedroom units and one 4-bedroom unit. The thoughtfully designed project features spacious floor plans with open layouts, abundant natural light, large windows, wall-to-wall and double closets, large vanities, in-unit laundry, and on-site parking. Plans show two garage parking spaces, while the site has been designed to accommodate up to nine parking spaces. Upon completion, the property is projected to generate approximately $222,000 in annual gross rental income (buyer to verify), offering compelling economics at an asking price of just $975,000 (~$183/buildable SF). Ideally located in West Adams adjacent to Culver City, the property provides convenient access to major employment centers, transportation, shopping, dining and some of the area's most popular destinations, including Cento, Mizlala, Alta Adams, Highly Likely, Chulita and Tartine. With RTI plans already in place, a buyer can bypass much of the time, expense and uncertainty associated with the entitlement process and move toward construction. Architectural plans and Offering Memorandum available upon request. Buyer to independently verify all plans, permits, approvals, square footage, parking, projected rents/income, zoning and development information. Contact listing agent for additional details.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LAR2
Interior
Fireplace No
Exterior
View Y/N No
View None
Building
New Construction No
Others
Senior Community No
Tax ID 5049004007
Special Listing Condition Standard
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Listed by Daniel Shamooelian Keller Williams Beverly Hills #01984269
Nearby Locations
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