5758 11Th Avenue

Los Angeles, CA 90043

$1,050,000

List Price

5

bed Beds

2

shower Baths

2,378 sqft

straighten / sqft

1920

calendar_month Built

Property Description

Great opportunity for a builder to develop, an investor to buy and hold or as an owner-occupied property. ED1 Eligible. Eligible for new CHIP ordinance that can allow additional 50% density increase and significant parking reductions (See Docs). Unlock the potential of a prime development opportunity located in a thriving area of Los Angeles. Zoned R3-1 and designated as a TOC Tier 4 site, this property offers significant incentives for increased density and reduced parking requirements. The ample lot size and substantial allowable floor area make it an ideal choice for developers seeking to create a high-density, multifamily residential project. Key features include a generous Buildable Area: The property spans 7,479 sq. ft. with a buildable square footage of 22,437 sq. ft., providing ample space for a substantial development. Optimized density and parking efficiency may allow developer to benefit from an 80% increase in allowable density and a 55% reduction in parking requirements, enhancing the project's feasibility and cost-effectiveness. Situated in a vibrant and accessible part of Los Angeles, this property is ideally positioned to attract residents . Its strategic location offers easy access to major transportation routes and urban amenities, ensuring strong demand and sustained growth potential. All information given deemed reliable but not guaranteed. Buyer and buyers agent to perform their own investigation in order to confirm the accuracy of all information including but not limited to lot size, zoning, development opportunities and building restrictions. One of the two units may be delivered vacant at close of escrow. showings will be scheduled by appointment with accepted offer subject to interior inspection. call listing agent for information on current rent roll.

Listing Information

List Price $1,050,000
Status Active
MLS 24415401
Type Residential Income
Year Built 1920
Lot Size 7,479
Structure Size 2,378
DOM 143
Courtesy Of RE/MAX ESTATE PROPERTIES
Listing Agent Shamim Khorsand Mashhadi DRE#02042990

Interior Features

Total Bedroom
Bedrooms 5
Total Bathroom
Bathrooms 2
Cooling Type
Cooling Type None

Exterior Information

Maps

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.