$595,000 Price Analysis   ♡   Los Angeles, CA 90003 Unknown bed 0 bath unknown SqFt ($0/SqFt) 5,160SqFt lot. Listed 2024-05-16 | Ⓧ USDA Ineligible due to property near Los Angeles |
Sold for land value making it a fantastic deal plus an opportunity to own a rare and vacant church.
Remodel it for use or repurpose it as desired. Rent it during entitlement. With new codes, the property affords an opportunity for redevelopment to a residential income property with tremendous residential density bonuses. R-4 zoning plus the best TOC Tier 1 benefits, low income housing bonuses and ADU laws, would allow for an excellent opportunty to build a large multi-family residential project. With both street frontage and alley access along the whole side of the property, makes it more conducive for various development choices and opportunities. Perhaps a 12 unit condo project with 12 separate private tandem 2 car garages with access along the alley? Check with the city and your architect and explore the myriad of opportunities this great property offers and for all the details related to redeveloping it to its highest and best use with the greatest density allowable with all bonuses and things considered.
A new law, signed by Gov. Gavin Newsom, rezones land owned by religious institutions, such as churches, mosques and synagogues, to allow for affordable housing. Starting in 2024, they ca n bypass most local permitting and environmental review rules that can be costly and lengthy. See SB 4. Extraordinary opportunity for a scarce, unique and desirable property along a major thoroughfare for a high density development. Sold in its present as is condition. No warranties of any kind or representations made regarding the property whatsoever. Buyer to conduct their own independent investigations. Standard sale. No court approval necessary. Property will be delivered tenant free at close of escrow. Because it is being sold for land value only, go directly to the property at any time and view it from the street and alley. Do not enter the property or disturb the tenant. Interior of property will be shown with proof of funds provided along with loan pre-approval letter or letter of credit if financing is needed. If being purchased for church purposes, the buyer must have adequate funds/financing for both purchase and rehab.
Presented by David Bond at
David Bond.
Property MLS #24-392719 from TheMLSCLAW
Lot Size Acres: 0.1184573
Lot Size Dimensions: 43x120
Lot Size Source: Assessor
Topography: Flat
Lot Size Square Feet: 5160
Calculated Total Monthly Association Fees: 0
County: Los Angeles
Current Use: Church
Directions: North of Manchester and east of the 110 freeway.
Source Property Type: Land
Area: Metropolitan South
Source Neighborhood: Metropolitan South
Parcel Number: 6030-014-016
Postal Code Plus 4: 3011
Property Location: Alley Access, City, Corner Lot
Zoning: LAR4
Source System Name: C2C
$595,000
TheMLSCLAW
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.