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1204-1210 W Florence Ave, Los Angeles, CA 90044

$1,250,000

Description

Offering a total flex opportunity for: live/work; rental income, or future redevelopment with mixed-use commercial & 38 new units. 1204-1210 W. Florence Avenue is perfect for investors; an owner-occupant, or a developer looking to build a new mixed-use project consisting of approx. 38 new apartment units with ground floor retail/commercial space using TOC Tier 2 bonuses. 1204 Florence (Lot #1): contains a move-in ready furnished 3+2 Home gated w/ a private driveway and a 1-car garage ($3,000/mth market). 1206 Florence (Lot #2) contains a large 1,200sf commercially zoned unit ($3,000/mth market) & a fully furnished 4+3 unit ($3,500/mth market). 1206 Florence also contains an approx. 1,200sf bonus/multi-use space + parking for 10+ cars with a devoted driveway & everything is fully gated/secure. The property will be delivered 100% vacant and is easily capable of generating market rents of $10,000/month for the existing units.

For developers, this 9,593sf double lot zoned C2/R4 offers great redevelopment options. TOC Tier 2 eligible for a 60% density bonus (9,593sf x 1.60 = 15,348sf lot). Requires 400sf/unit so a developer could build as many as 38 new units with 1st floor commercial/retail space required. Land cost of just $35K/unit. Build up to 5 stories high with reduced parking & setbacks required. This property also offers the unique ability to earn rental income while you complete the entitlement process.

Investment Highlights:
● Fantastic large commercially zoned mixed-use compound offers endless use or redevelopment options
● A 9,593 sq. ft. double lot zoned C2/R4 with a TOC Tier 2 density bonus allowing for as many as 38 new units to be built
● Property delivered fully vacant with the ability to generate market rent of approx. $10K/mth from the existing structures
● Rapidly appreciating location only 2 miles from the new Crenshaw/LAX metro rail-line opening in 2020 & only 4 miles to the new $5B Rams/Chargers Stadium & Hollywood Park redevelopment

 

Property Downloads

Address

  • City: Los Angeles
  • State/county: CA
  • Country: United States

Detail

Updated on April 5, 2019 at 3:20 pm

  • Price: $1,250,000
  • Property Size: 3,367 Sq Ft
  • Land Area: 9,593 Sq Ft
  • Year Built: 1922
  • Property Type: Development Opportunity, Multifamily
  • Property Status: Active

Contact info

Matt Dunfrund
Matt Dunfrund
(424) 330-2015(310) 367-9666
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