$1,750,000
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Western Ave Los Angeles, CA 90062
Other
Residence
4
Beds
8
Baths
7,824
Sq. Ft.
0.13
Acre
Lot
Property Activity
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days
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Value Added Opportunity for a fully vacant Retail/Office/Residential property consisting of 7,824 SF of building and 5,663.SF of land. Potential to remodel the existing building or build new development. Listed at below market prices and has live/work potential. Mid Century Modern Mixed Use 2 Story ...Building located on Western Avenue, just south of Vernon Avenue.1st Floor has 7 commercial units (retail and office)2nd Floor has 4 one-bedroom and one-bathroom residential apartment unitsGated parking lot in rear with alley access. Property also features an atrium, front and rear staircases, and a storage room.Located in an Opportunity Zone, Los Angeles State Enterprise Zone , Redevelopment Project Area - Western/Slauson, and Urban Agriculture Incentive Zone. Property has some deferred maintenance and needs updating. Various incentives and highly desirable loan programs for owner-users are available. Property neighbors several large new developments. Neighborhood has lots of upside and growth potential. Across the Street from Barack Obama Global Preparation Academy & Westbrook Middle School. On Western Avenue Between 46th and 47th Street, South of Vernon Ave and North of Slauson Ave.Located in Transit Oriented Community Tier 3 (TOC 3) with bus stops located at Western/Vernon and Western/48th Ave. The centrally located property is eligible for Reduced Parking Requirements, AB 2334 Density Bonus, and probably AB 2011 Streamlined Approval. Showing by appointment.
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MLS#
24-460385
Property Type
Other
Bedrooms
4
Bathrooms
Year Built
1962
Square Feet
7,824
sq. ft
Price per Sq. Ft.
$223.67
Lot Size
0.13
Sewer
No Sewer
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