Listed by Shamim Khorsand Mashhadi - DRE #02042990 - RE/MAX ESTATE PROPERTIES 310-577-5300
$1,299,000 affordable loan icon Calculate Payment

1632 Crenshaw Boulevard Los Angeles, CA 90019

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Cluster Residence
4 Beds
2 Baths
2,199 Sq. Ft.
0.16 Acre Lot

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Last updated on 11/15/2024 10:56 PM
Great investment opportunity for a developer to build, an investor to buy and hold or as an owner-occupied unit. Prime development opportunity located in a desirable area of Los Angeles. Eligible for new CHIP ordinance that can allow additional 50% density increase and significant parking reductions... (See Docs). Zoned R3-1-O and designated as a TOC Tier 3 site, this property offers substantial incentives for increased density and reduced parking requirements. With significant buildable area and favorable height and density allowances, this site is ideal for developers looking to create a high-density, multifamily residential project.Key Features:Ample Buildable Area: The property spans 7,048 sq. ft. with a buildable square footage of 21,144 sq. ft., providing a solid foundation for a substantial development. Optimized density and parking efficiency may include up to a 70% increase in allowable density and a 50% reduction in parking requirements, enhancing project feasibility and profitability. Situated in a dynamic and accessible part of Los Angeles, Its proximity to major transportation routes and urban amenities ensures strong demand and long-term growth potential, making it a highly attractive investment opportunity. All information provided is deemed reliable but not guaranteed. Buyer and buyers agent to perform their own investigation including but not limited to lot size, zoning and planning, building restrictions. This property is tenant occupied and as such, being sold with tenants in place. Contact listing agent for more information on current rent roll. Continue reading
MLS#
24415333
Property Type
Cluster
Status
Bedrooms
4
Bathrooms
Year Built
1914
Square Feet
2,199 sq. ft
Lot Size
0.16

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Listed by Shamim Khorsand Mashhadi - DRE #02042990 - RE/MAX ESTATE PROPERTIES 310-577-5300
Barbara Lynn Simmons, CALBRE 637579, Xome Inc., CALBRE 1932600, [email protected], 844-400-XOME (9663), 2945 Townsgate Road, Suite 200, Westlake Village, CA 91361

The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this website. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This content last refreshed on 11/15/2024 10:56 PM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Information is deemed reliable but is not guaranteed.
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