$1,400,000
$1,200,000
16.7%For more information regarding the value of a property, please contact us for a free consultation.
0.41 Acres Lot
SOLD DATE : 03/20/2024
Key Details
Sold Price $1,400,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID P1-16383
Sold Date 03/20/24
HOA Y/N No
Year Built 1954
Lot Size 0.406 Acres
Property Description
Welcome to an outstanding value-add, development, and investment opportunity in a prime location! This 5-unit single-story complex near Foothill Blvd. provides convenience and proximity to retail amenities and holds significant potential for Accessory Dwelling Units (ADUs). The expansive lot offers the prospect of adding extra units, promising enhanced rental income for savvy investors. With LAR3 zoning, the property presents a remarkable development opportunity, allowing for a 22-unit apartment complex by right and up to 35 units with density bonuses. This unique flexibility positions the property as an ideal investment for those looking to capitalize on the ever-growing demand for housing in Los Angeles.
Location
State CA
County Los Angeles
Area 659 - Sunland/Tujunga
Zoning LAR3
Interior
Fireplaces Type Decorative
Fireplace Yes
Laundry None
Exterior
Garage Asphalt, One Space, On Street
Fence Block, Chain Link, Vinyl, Wood
Pool None
Community Features Sidewalks
View Y/N No
View None
Parking Type Asphalt, One Space, On Street
Total Parking Spaces 5
Private Pool No
Building
Sewer Sewer Tap Paid
Water Public
New Construction No
Others
Senior Community No
Tax ID 2560009047
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Cash to New Loan
Special Listing Condition Trust
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Bought with Michael Zargarian • NextHome Grandview