1632 Crenshaw Boulevard, Los Angeles
Los Angeles Home For Sale
Great investment opportunity for a developer to build, an investor to buy and hold or as an owner-occupied unit. Prime development opportunity located in a desirable area of Los Angeles. Eligible for new CHIP ordinance that can allow additional 50% density increase and significant parking reductions (See Docs). Zoned R3-1-O and designated as a TOC Tier 3 site, this property offers substantial incentives for increased density and reduced parking requirements. With significant buildable area and favorable height and density allowances, this site is ideal for developers looking to create a high-density, multifamily residential project.Key Features:Ample Buildable Area: The property spans 7,048 sq. ft. with a buildable square footage of 21,144 sq. ft., providing a solid foundation for a substantial development. Optimized density and parking efficiency may include up to a 70% increase in allowable density and a 50% reduction in parking requirements, enhancing project feasibility and profitability. Situated in a dynamic and accessible part of Los Angeles, Its proximity to major transportation routes and urban amenities ensures strong demand and long-term growth potential, making it a highly attractive investment opportunity. All information provided is deemed reliable but not guaranteed. Buyer and buyers agent to perform their own investigation including but not limited to lot size, zoning and planning, building restrictions. This property is tenant occupied and as such, being sold with tenants in place. Contact listing agent for more information on current rent roll.
Property Details
Additional Information
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- City:
- Los Angeles
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- County:
- Los Angeles
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- Zip:
- 90019
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- MLS® #:
- 24415333
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- Bedrooms:
- 2
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- Bathrooms:
- 1
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- Square Ft:
- 2,199
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- Lot Size:
- 0.16
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- Levels:
- Two, Multi/Split
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- HOA Dues:
- $
Based on information from California Regional Multiple Listing Service, Inc. as of August 14th, 2024 at 2:40pm PDT. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.