Discover an exceptional investment opportunity at 1045 Browning Boulevard in Los Angeles. This 7,820 square foot lot is strategically located in the desirable Exposition Park area. One of the last commercial zone lots on the block. Currently functioning as a four-unit multifamily property, this site generates income while you navigate… Read More the entitlement process. The property is zoned LAC2-2D-CPIO, allowing for the development of up to 19 units by-right. However, leveraging the Tier 3 Transit Oriented Communities (TOC) benefits, there is potential to increase this to 34 units. The TOC program offers valuable incentives such as significant density bonuses, reductions in setbacks, parking requirements, and an enhanced floor area ratio. Surrounded by vibrant local amenities, including the new George Lucas Museum, Exposition Park, the LA Coliseum, BMO Stadium, and the Natural History Museum, this property is positioned for growth in a thriving neighborhood. This offering presents an excellent opportunity for any investor or developer looking to capitalize on a mid-size lot with substantial development potential in a prime Los Angeles location. Don't miss out on the chance to create a significant impact in this rapidly evolving area! Read Less
Property listed by Christie's International Real Estate SoCal, Anna Kadinowa 424-249-7162
Listing Snapshot
Days Online
51
Last Updated
Property Type
Other
Beds
9
Square Ft.
4,162
Lot Size
0.18 Acres
Year Built
1924
MLS Number
24458759
30 Days Snapshot Of 90037
$666k
-3%
(avg) sold price
2
-75%
homes sold
141
+11%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1924, Building area total: 4,162, Levels: MultiSplit, Living area: 4162, 2 buildings, Architectural style: Spanish, Common walls: NoCommonWalls
Community
Gated
Heating
WallFurnace
Income
Gross income: $98,541, Net operating income: $88,598
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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