Los Angeles, known for its booming real estate market, presents an exciting opportunity for developers and investors with the availability of a spacious duplex for sale. This property, located on a 7500 square foot lot, is situated in an Opportunity Zone and holds immense potential for those looking to make a profitable investment.
The property is zoned R4, allowing for the construction of up to 18 units or more. With a Tier 3 TOC (Transit Oriented Communities) rating, developers have the added advantage of potential incentives and bonuses that can be availed while designing and constructing a project in compliance with the city’s transit-oriented guidelines.
One of the standout features of this property is the charming 2-story Victorian house that is the centerpiece of the lot. Additionally, there is a detached single unit located at the rear (south) of the property. This unique configuration provides multiple options for potential buyers, whether they wish to retain the existing structures or explore the possibility of redeveloping the entire lot.
The property boasts a single electric and gas meter, indicating the potential for separate utility meters to be installed for each unit, enabling individual billing. This flexibility can be advantageous for future residents, as they can manage their own utility costs.
According to a City report, there are indications of two addresses associated with the property, further enhancing its potential. The county land use designation already classifies it as a duplex, providing added convenience and clarity for any future development plans.
The current owner has made significant investments in the property, including updates to the electrical system, plumbing, and foundation. These improvements not only ensure a solid foundation for any future construction but also provide peace of mind to potential buyers.
Furthermore, the property will be delivered vacant, allowing developers and investors to embark on their projects without the need for eviction or relocation efforts. This is a significant advantage as it reduces potential complexities and costs associated with such processes.
Overall, this Los Angeles duplex offers an incredible opportunity for developers and investors alike. With its large lot size, favorable zoning, and TOC rating, there is immense scope to create a substantial housing development. Whether it’s retaining the existing structures or exploring the potential for a complete redevelopment, the choice lies with the buyer.
The combination of new electrical, plumbing, and foundation upgrades, along with the vacant delivery, makes this property even more enticing. The solid infrastructure and vacant status ensure a smooth transition for any future project, saving time and resources.
For those looking to capitalize on the thriving Los Angeles real estate market, this duplex is a golden opportunity. With its huge development potential and prime location within an Opportunity Zone, it presents a chance to create a lucrative investment that aligns with the city’s long-term growth plans. Don’t miss out on this remarkable chance to make your mark in the dynamic and ever-evolving landscape of Los Angeles real estate.