2834 Leeward Avenue

    Los Angeles (City), CA 90005
    • $2,495,000
    • STATUS: Active
    • ON SITE: 73 days
    • ID#: 20565610
    UPDATED: 20 min ago
    $2,495,000
    • 0
      BEDS
    • 0.22
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1928
    County:

    School Ratings & Info

    Description

    Global Platinum Properties is proud to present an advantageous development/investment property in the heart of Koreatown priced at only 62k per buildable unit. The subject 9,417 SF lot is in an R4-2 zone with the benefits of TOC (Tier-3) & "Opportunity Zone" designations. Per LADBS, 40 units can be built using the TOC designation and 23 units by right. There are currently 2 structures on the property, totaling 4,940 SF and 5 units. The current improvements can provide cash flow during the entitlement process. Preliminary Plans call for 40 units (4 Affordable) and 33,700 SF of floor area in 6 levels of residential over 1 level of ground floor parking level and 1 level of semi-subterranean parking for a total of 31 parking spaces. The proposed unit mix includes 8 Junior 1-bedrooms, 12 Larger 1-bedrooms, and 20 2-Bedrooms units. Walking distance to Wilshire/Vermont Metro Station (0.4 mi), Restaurants and bars in Koreatown, and just a short drive to Hollywood, DTLA, and Staples Center!

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-06-01T17:28:56.78. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Allison James Estates and Homes. Licensed in the State of California, USA.

    www.teamforss.com/homes/104327520

    2834 Leeward Avenue Los Angeles (City), CA 90005

    • Price: $2,495,000
    • Status: Active
    • Updated: 20 min ago
    • ID#: 20565610
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.22
    Acres
    1928
    Built
    Neighborhood:
    C17 - Mid-Wilshire
    County:
    Los Angeles
    Area:
    C17 - Mid-Wilshire
    Property Description
    Global Platinum Properties is proud to present an advantageous development/investment property in the heart of Koreatown priced at only 62k per buildable unit. The subject 9,417 SF lot is in an R4-2 zone with the benefits of TOC (Tier-3) & "Opportunity Zone" designations. Per LADBS, 40 units can be built using the TOC designation and 23 units by right. There are currently 2 structures on the property, totaling 4,940 SF and 5 units. The current improvements can provide cash flow during the entitlement process. Preliminary Plans call for 40 units (4 Affordable) and 33,700 SF of floor area in 6 levels of residential over 1 level of ground floor parking level and 1 level of semi-subterranean parking for a total of 31 parking spaces. The proposed unit mix includes 8 Junior 1-bedrooms, 12 Larger 1-bedrooms, and 20 2-Bedrooms units. Walking distance to Wilshire/Vermont Metro Station (0.4 mi), Restaurants and bars in Koreatown, and just a short drive to Hollywood, DTLA, and Staples Center!
    Exterior Features

    Lot Size Source Assessor Lot Size Units Square Feet Parking Features Detached CarportGarageTandem GarageUncovered Parking YN Yes

    Interior Features

    Cooling None Cooling YN No Heating Wall Furnace Heating YN Yes

    Property Features

    Gross Income 87564.00 Gross Multiplier 28.50 Gross Operating Income 87564.00 Insurance Expense 2223.00 Maintenance Expense 600.00 Net Operating Income 49901.00 New Taxes Expense 29940.00 Senior Community YN No Special Listing Conditions Standard Total Expenses 37663.00 Water Sewer Expense 4500.00 Zoning Lar4

    Listing provided courtesy of Julio Ruiz of Global Platinum Properties, Inc. and Armin Soleimani of


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-06-01T17:28:56.78. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Allison James Estates and Homes. Licensed in the State of California, USA.

     
    Allison James Estates and Homes
    31213 Temecula Parkway
    Temecula CA, 92592