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1045 W Vernon Avenue

Los Angeles, CA 90037

PRICE INCREASE

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+$50,000 (+4.00%)

$1,300,000

List Price

N/A

bed Beds

4

shower Baths

3,574 sqft

straighten / sqft

calendar_month Built

Property Description

Great investment opportunity for a builder to develop, and investor to buy and hold or as an owner-user property. ED1 Eligible. Eligible for new CHIP ordinance that can allow additional 50% density increase and significant parking reductions (See Docs). Unveil the potential of a prime development opportunity located in a bustling area of Los Angeles. Zoned C2-2D-CPIO and designated as a TOC Tier 3 site, this property provides substantial incentives for increased density and reduced parking requirements. The generous lot size and significant allowable floor area make it ideal for developers aiming to construct a high-density project.Key Features:Extensive Buildable Area: The property covers 9,757 sq. ft. with a buildable square footage of 58,542 sq. ft., offering ample space for a significant development. Optimized density and parking efficiency may provide a 70% increase in allowable density and a 50% reduction in parking requirements, enhancing the project's feasibility and cost-effectiveness. It's strategic location offers easy access to major transportation routes and urban amenities, ensuring strong demand and sustained growth potential. Units are comprised of three 1/1's and one 3/1. All information given is deemed reliable but not guaranteed. Buyer and buyers agent should perform their own investigation to confirm accuracy of information including but not limited to lot size, zoning, building requirements and restrictions. Call listing agent for additional information regarding current rent roll. 3 of the units may be delivered vacant at close of escrow. Showings will be by appointment only with accepted offer subject to interior inspection.

Listing Information

List Price $1,300,000
Status Active
MLS 24415361
Type Residential Income
Lot Size 9,757
Structure Size 3,574
DOM 143
Courtesy Of RE/MAX ESTATE PROPERTIES
Listing Agent Shamim Khorsand Mashhadi DRE#02042990

Interior Features

Total Bedroom
Bedrooms N/A
Total Bathroom
Bathrooms 4
Cooling Type
Cooling Type None

Exterior Information

Maps

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Listing information courtesy of: Shamim Khorsand Mashhadi, RE/MAX ESTATE PROPERTIES . *Based on information from the Association of REALTORS/Multiple Listing as of Dec 5th, 2024 at 5:10 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.