3434 Chesapeake AVE Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90016
Key Details
Property Type Vacant Land
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID 24394841
HOA Y/N No
Lot Size 9,178 Sqft
Acres 0.2107
Property Description
PRICE REDUCED! We are pleased to present a 100% vacant land development opportunity located in the heart of West Adams! Totaling +/-9,180sf of LARD1.5 Tier 3 TOC land, a new owner has the ability to capitalize on various exit strategies that include the following: 1) Current RTI plans for a market rate 10-unit + 2 ADU multi-family for- rent building, 2) 100% affordable housing up to 50 units (feasibility study available on request), 3) Subdivision for 4-6 homes, or 4) Multiple duplex style build yielding 6-10 large units. Located just steps away from the trendy Jefferson Blvd corridor that includes numerous amenities such as Highly Likely (local cafe) and the soon-to-be Maydan Market (food hall) that includes Michelin Star connected restaurant Compass Rose. Being just 0.1 miles away, a 3-minute walk, from the Farmdale Metro Rail Line station, tenants have the ability to easily access Santa Monica, Culver City, USC, LAX, and Downtown LA. Ownership has plans in place for a market rate 10-unit + 2 ADU development that can be included in a sale. As a 100% affordable ED1 development, there's potential for up to 50 units with no parking requirements and an affordable stick on grade type construction. With its Opportunity Zone location, the property is well positioned for a developer seeking a well-located property with high rental demands that is nearby significant employment opportunities. Buyer shall complete their own due diligence to determine the development potential.
Location
State CA
County Los Angeles
Area Phht - Park Hills Heights
Zoning LARD1.5
Interior
Fireplace No
Exterior
View Y/N Yes
View City Lights
Building
New Construction No
Others
Senior Community No
Tax ID 5046009019
Special Listing Condition Standard