Prime Development Opportunity in West Adams 3031 Buckingham Rd, Los Angeles, CA 90016: Attention Developers and Investors! This is an exceptional opportunity to acquire a 6,580 sq ft flat lot in the heart of the booming West Adams neighborhood, offering endless possibilities for a profitable fourplex or more development. The property is zoned LARD RD1.5-1, providing favorable zoning for maximizing density and affordable housing bonuses. Situated just steps away from West Adams Boulevard, this lot is within walking distance of some of the city's most popular dining spots, boutique shops, and social clubs, including Tartine, Mizlala, Alta Adams, The Gathering Spot LA, and more. This makes it a highly desirable location for future residents who want to experience the vibrant local lifestyle.For developers looking to sell off units as Tenancies in Common (TIC), this property presents a prime opportunity. Similar TIC projects in the area have shown remarkable success. Additionally, with the property located in an Opportunity Zone, there are significant tax benefits and incentives available, making it an attractive investment.Key Features: 6,580 sq ft flat lot with ideal zoning for multi-unit development, LARD RD1.5-1, zoning allows for increased density and affordable housing incentives, Prime West Adams location close to high-end dining, shopping, and entertainment, Ideal for TIC or rental property development in an area with strong demand Opportunity Zone benefits for long-term tax advantages, Proximity to major employment centers and transportation corridors. This is a rare chance to develop in one of Los Angeles' fastest-growing neighborhoods, with high rental demand and strong appreciation potential. Buyer to verify all information and conduct due diligence regarding the development possibilities. Don't miss out on creating a landmark project in one of LA's most sought-after areas!
RTI APPROVED & READY TO BUILD Vacant Lot. Property has been demolished to build 5 units comprising of 2 3-story buildings. 4 units with 4 bedrooms/ 4 baths at 1700 sqft each. 1 ADU with 4 bedrooms/2 baths at 1363 sqft.
NEW LIST PRICE! Desired Mid-City Vacant Lot (Flat) Zoned R2 Located on a nice street, plus more. This could be a great opportunity for a Developer looking for a site for New Development. Perfect location to build a nice Custom Two Story Home in the City and be close to all conveniences. Within minutes to travel to LA Live, USC, Miracle Mile, The Grove, Beverly Hills and Culver City. There is a Non-Exclusive Easement for Ingress, Egress & Unobstructed Driveway Purposes and Incidental Maintenance that is included regarding Residence Neighbor North of Land. (Copy of Easement Available for Buyer to Review). Buyer is advised to Investigate Independently the property in its entirety, with the City of Los Angeles plus, the Verification & Accuracy of all Investigations, Reports, Survey, Professional & Personal Inspections for Buyer's Satisfaction. This is a Probate that DOES NOT REQUIRE COURT CONFIRMATION. Sellers Consists of: Seller 50% Interest & Co-Administrators appointed by the Court. Sellers Prefer Buyer to complete all of their Due Diligence prior to submitting their Offer.
The median home value in Los Angeles, CA is $912,500. This is higher than the county median home value of $796,100. The national median home value is $338,100. The average price of homes sold in Los Angeles, CA is $912,500. Approximately 33.96% of Los Angeles homes are owned, compared to 58.13% rented, while 7.92% are vacant. Los Angeles real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you see a property you’re interested in, contact a Los Angeles real estate agent to arrange a tour today!
Los Angeles, California 90016 has a population of 3,902,440. Los Angeles 90016 is less family-centric than the surrounding county with 28.08% of the households containing married families with children. The county average for households married with children is 30.99%.
The median household income in Los Angeles, California 90016 is $69,778. The median household income for the surrounding county is $76,367 compared to the national median of $69,021. The median age of people living in Los Angeles 90016 is 36.2 years.
The average high temperature in July is 83.6 degrees, with an average low temperature in January of 45.9 degrees. The average rainfall is approximately 15.5 inches per year, with 0 inches of snow per year.