We are excited to present a rare opportunity to acquire a prime 6,632 SF lot in the prestigious Hancock Park neighborhood. Zoned LAR3 with a Tier 3 TOC (70% density bonus), this site allows for the development of 8 units by-right or up to 13 units with the use of… Read More TOC incentives. Currently, the lot is home to a 6-bedroom, 4-bathroom single-family residence, which can be delivered either vacant or tenant-occupied. The property is currently rented by the bedroom to young professionals, generating a gross income of approximately $8,000 per month. The entire home has been extensively updated, featuring a fully rewired electrical system with a new 200-amp panel, brand-new plumbing, new roof, dual-pane windows, waterproof hardwood flooring, and beautifully remodeled bedrooms & bathrooms. Financials are based on proforma market rents of $10,000/month. Read Less
Property listed by KW SELA, Davis Saadian 562-334-1500
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.
Confirm your time
Fill in your details and we will contact you to confirm a time.
