Description
Desirable Opportunity to Redevelop Up to 25-Unit Apartment or to Build ADUs | Seven Single-Story Units on Large 11,333-Square Foot Lot | Tremendous Value-Add Opportunity - Approximately 84% in Rental Upside | 9.87% Pro-Forma CAP Rate & 7.85 Pro-Forma GRM | Rare LAR3 TOC Tier 3 Zoning - Outstanding Development Potential in Strong Hyde Park Apartment Market | TOC Tier 3 High Density Bonus Allowance with No Subterranean Parking Required & Only 0.5 Parking Spaces Per Unit | Vacant Room (Former Laundry Room) & Total of 6 Garages - Potential to be Converted into ADUs (Buyer to Verify) | Close Proximity to Fairview Heights Station and Hyde Park Station of the Crenshaw/LAX Metro Transit Line (K Line) | Located 2 Miles from SoFi Stadium & The Forum and Approximately 2.5 Miles from Baldwin Hills & Intuit Dome (NBA Clippers Arena) | Offered at $163,571 Per Unit & $270 Per SF
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Listing Agent: Jonathan Nikfarjam
Listing Office: Shield CRE, Inc.
Attribution contact: 310-593-9869
