We are proud to exclusively present for sale a portfolio of four adjacent properties with tremendous redevelopment potential just north of MacArthur Park. Currently consisting of a 16 Unit Apartment Building, a Duplex, an SFR (Vacant, In Demolition) and Boarding House that was converted to six SRO units, the four properties boast a combined 30,250 SF of land, 30,000 SF of C2-1 & 250 SF of R4-2 TOC Tier 3, Opportunity Zone land. OPTION 1: Keep Existing 16 Unit as Value-Add Play & Develop 22,500 SF of C2-1, TOC TIER 3, Opportunity Zone Land into 97 Units or 103 Affordable Units. OPTION 2: Develop all 4 adjacent parcels, 30,000 SF of C2-1 & 250 SF of R4-2, TOC TIER 3, Opportunity Zone Land into 128 units or 137 Affordable Units. ZONING: - No Overlay Zones (no CDO, no CPIO overlay requirements). - No Historical Issues. - No Specific Plan Requirements. LOCATION: - Distance to Metro Station: 1 block / 6 minute walk. - Centrally located: 7 minute drive or 9 minute Metro ride to Downtown Los Angeles & 30 minute drive to Santa Monica. - Alvarado Street is a major corridor with unparalleled visibility will ensure speedy lease-up of units. Listing Includes 4 APNs and 4 Addresses: 415, 417, 419 & 427 S. Alvarado St., Los Angeles, CA 90057. 5154-031-004, 5154-031-005 & 5154-031-006, 5154-031-016.
Courtesy of Dario Svidler, Keller Williams Beverly Hills
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Data last updated 9/29/22