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$ 1,495,000
Est. payment | /mo
5,624 SqFt
$ 1,495,000
Est. payment | /mo
5,624 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 5,624 sqft
Price per Sqft $265
MLS Listing ID CL24372459
HOA Y/N No
Year Built 1923
Lot Size 6,970 Sqft
Acres 0.16
Property Description
We are pleased to present a value-add 8-unit apartment building in the heart of East Hollywood, just blocks from Virgil Village, Silverlake, and close to Los Feliz and Hollywood. The subject property consists of eight one bedroom, one bath units of which two will be delivered vacant. This property comprises of two buildings totaling approximately 5,624 square feet on an approximately 6,970 square foot parcel of land zoned C4-1D. The lot is zoned C4-1D and is in Tier 3 of TOC (transit-oriented community) allowing for the development of +/- 29 units using TOC, and potentially more units using ED1 as a 100% affordable project. Currently there is room for four car parking (two tandem spaces) and addition courtyard space. There is likely enough room on this site to build a detached ADU. Buyer to verify all development potential with their own architect. All development is subject to the Vermont/Western Station Neighborhood Area Plan. Seller and Broker make no representations as to developability of this property. At this time the building is master leased to APLA Health but will be delivered with no master lease in place. All of the leases are with Section 8 tenants and five of the six remaining tenants are paying significantly below market rents. There is immediate upside by increasi
Location
State CA
County Los Angeles
Area Listing
Zoning C4-1
Interior
Cooling None
Fireplace No
Building
New Construction No
Others
Tax ID 5542012019
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Listed by Oron Maher • Maher Commercial Realty
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Patrick Nagel
REALTOR® | Lic# 1760790