Los Angeles CA Land for Sale
$1,195,000
8931 Ramsgate Avenue Los Angeles, CA 90045
- Type:
- Land
- Sq.Ft.:
- n/a
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.16 Acres
- Baths:
- MLS#:
- 24395379
ADDITIONAL INFORMATION
We are pleased to present 8931 Ramsgate Ave, a VACANT duplex located on 7,063 SF of LAR3 Tier 3 TOC zoned land! With the existing duplex (both 2 bed + 1 bath) being 100% vacant, there are numerous exit strategies that include the following: 1) Build 16 units + 4 ADUs utilizing the current RTI plans, 2) Renovate the existing Duplex + build new ADUs, 3) Utilize ED1 to construct 100% affordable housing project, or 4) Multiple duplex style build yield 4-6 large units. Located in the heart of Westchester, tenants will have ease of access to the 405FWY, numerous employment opportunities, Loyola Marymount University, Venice Beach, Santa Monica, El Segundo, and LAX. Ownership has plans in place for a market rate 16-unit + 4 ADU development that can be included in a sale. As a 100% affordable ED1 development, there's potential for up to 36 units with no parking requirements and an affordable stick on grade type construction. As a value-add project, a new owner can perform renovations on the existing units, both 2 bed + 1 bath units, and add additional ADUs by converting the existing rear garage. Buyer shall complete their own due diligence to determine the development potential.
- Type:
- Land
- Sq.Ft.:
- n/a
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 1.48 Acres
- Baths:
- MLS#:
- 23330577
ADDITIONAL INFORMATION
Lot 7, Tract 61605 (APN: 4103-024-032) is a rare and unique opportunity to own 1.49 acres of LAR1 vacant land in prime Westchester, located just minutes to SoFi Stadium, Intuit Dome, Hollywood Park Casino, Kenneth Hahn, Playa Vista, and much more. Very centrally located near the Metro/Expo lines, and the 405-freeway entrance/exits. The land can be bought together with 5400 Thornburn Street, which is a Triplex that is directly in front of Lot 7 and is for sale for $1,150,000 with 2 of 3 units delivered vacant at closing. 5400 Thornburn Street sits on a 12,931 SF lot and is zoned LAR3. The next owner can consider doing a lot line adjustment between Lot 7 and 5400 Thornburn Street to connect the two lots and create a large parcel assemblage for re-development. Seller financing may be available to a Buyer to help weather the current state of the debt markets. Scanned copies of the official track maps are available in the documents folder on the MLS. The property address listed on the MLS posting (0 Thornburn Street) is not the legal address of the land, as the land does not have a legal address -- but it has a legal APN (4103-024-032) and is titled Lot 7, Tract 61605 (6889254).
Los Angeles Real Estate
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 90045 has a population of 3,902,440. Los Angeles 90045 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 90045 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 90045 is 36.2 years.
Los Angeles Weather
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.