$1,400,000
$1,200,000
16.7%For more information regarding the value of a property, please contact us for a free consultation.
8 Beds
SOLD DATE : 03/20/2024
Key Details
Sold Price $1,400,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID P1-16383
Sold Date 03/20/24
Bedrooms 8
Property Sub-Type Res Income 2-4 Units
Property Description
Welcome to an outstanding value-add, development, and investment opportunity in a prime location! This 5-unit single-story complex near Foothill Blvd. provides convenience and proximity to retail amenities and holds significant potential for Accessory Dwelling Units (ADUs). The expansive lot offers the prospect of adding extra units, promising enhanced rental income for savvy investors. With LAR3 zoning, the property presents a remarkable development opportunity, allowing for a 22-unit apartment complex by right and up to 35 units with density bonuses. This unique flexibility positions the property as an ideal investment for those looking to capitalize on the ever-growing demand for housing in Los Angeles.
Location
State CA
County Los Angeles
Zoning Public Rec
Direction Going East on Foothill, go South on McVine
Interior
Fireplace No
Exterior
Utilities Available Sewer Connected
View Y/N No
Others
Senior Community No
Acceptable Financing Cash
Listing Terms Cash
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