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$ 1,395,000
Est. payment | /mo
0.26 Acres Lot
$ 1,395,000
Est. payment | /mo
0.26 Acres Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 26860151
HOA Y/N No
Year Built 1916
Lot Size 0.261 Acres
Property Description
CALLING ALL INVESTORS. FIXER OPPORTUNITY! Presenting a rare investment and development opportunity in the rapidly transforming Park Mesa neighborhood of Los Angeles. This highly sought-after area is experiencing significant growth, with numerous developments currently underway, making it an ideal acquisition for investors, developers, and long-term hold buyers alike. The property's most compelling feature is that it will be delivered mostly vacant, creating immediate flexibility and multiple exit strategies. Investors can renovate and lease the oversized units at current market rents. Alternatively, developers can capitalize on the area's strong development momentum by pursuing a ground-up redevelopment project of up to 84 units (Buyers to check with the city). In addition to a full redevelopment play, buyers may explore the possibility of adding additional units to the rear of the oversized lot, creating a larger multifamily asset while maintaining existing improvements. Buyers should conduct their own due diligence regarding development potential and zoning opportunities( Zoned R3). The existing property consists of five exceptionally large apartment units, each featuring a dedicated one-car garage and private laundry area, amenities that are increasingly difficult to find in today's rental market. The generous unit sizes and functional layouts provide strong appeal for future tenants and support premium rental rates. Whether you're seeking a cash-flowing multifamily asset, a value-add repositioning opportunity, or a future development site in one of Los Angeles' emerging growth corridors, this property offers a combination of flexibility, location, and upside rarely available in today's market. 4 units will be delivered vacant. The final tenant is open to moving.
Location
State CA
County Los Angeles
Area Phht - Park Hills Heights
Zoning LAR3
Interior
Fireplace No
Laundry Common Area, Inside
Exterior
Roof Type Composition
Others
Tax ID 4006004017
Special Listing Condition Standard
Listed by Magaly Gordon West Shores Realty, Inc. #01306297
NEARBY SCHOOL & BUSINESS
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