432 N Normandie Av Los Angeles, CA 90004

$900,000
Los Angeles, CA   90004
0 Beds, 0.0 Baths, 0 sq ft, 5,827 sq ft lot, Built in 0
432 N Normandie Av, Los Angeles, CA 90004 Photo 0
432 N Normandie Av, Los Angeles, CA 90004 Photo 1
432 N Normandie Av, Los Angeles, CA 90004 Photo 2
0 Beds,
0.0 Baths,
0 sq ft,
5,827 sq ft lot
Built in 0

Description

MLS# 18380146

We are pleased to present a 5,826 square foot rare development opportunity in Mid-Wilshire, Los Angeles. Located at 432 North Normandie Avenue, the property sits on a residential neighborhood adjacent to single-family homes and other multifamily properties. Tenants enjoy proximity to the 101 Freeway, and access to amenities on Santa Monica Boulevard, as well as Wilshire Boulevard. Currently the lot features a cash flowing duplex. The property has LAR3-1 zoning which allows for multifamily, and residential developments. This particular zoning has no Q Conditions. The unentitled offering has a potential to allow for a development of 7 units by right, and 12 units with the Tier 3 Transit-Oriented Community (TOC) density bonus. Seller has agreed to carry paper at an interest rate of 3.75%. The property presents an exciting opportunity for any investor to develop in the Mid-Wilshire market while benefiting from LAR3 Zoning in a Tier 3 TOC. Listed by Jason Tuvia, Marcus & Millichap.

Description

MLS# 18380146

We are pleased to present a 5,826 square foot rare development opportunity in Mid-Wilshire, Los Angeles. Located at 432 North Normandie Avenue, the property sits on a residential neighborhood adjacent to single-family homes and other multifamily properties. Tenants enjoy proximity to the 101 Freeway, and access to amenities on Santa Monica Boulevard, as well as Wilshire Boulevard. Currently the lot features a cash flowing duplex. The property has LAR3-1 zoning which allows for multifamily, and residential developments. This particular zoning has no Q Conditions. The unentitled offering has a potential to allow for a development of 7 units by right, and 12 units with the Tier 3 Transit-Oriented Community (TOC) density bonus. Seller has agreed to carry paper at an interest rate of 3.75%. The property presents an exciting opportunity for any investor to develop in the Mid-Wilshire market while benefiting from LAR3 Zoning in a Tier 3 TOC. Listed by Jason Tuvia, Marcus & Millichap.

Area
AREA: C17 - Mid-Wilshire
COUNTY: LA
Exterior Features
LOT: Sprinklers None
Community
HOA DUES 1: 0.00
Land
ASSESSMENTS: None
ZONE: LAR3
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