MLS® ID: 19495012

518 S PARK VIEW Street

Los Angeles, California, 90057

$1,950,000 Active
  • - SQFT
ATTENTION BUILDERS AND DEVELOPERS!!! LOCATED IN THE HEART OF WESTLAKE/MAC ARTHUR PARK AREA OF DOWNTOWN LA, HERE IS AN INCREDIBLE OPPORTUNITY TO BUILD A BRAND NEW 30 UNITS APARTMENT 6 STORIES BUILDING WITH ROOF TOP AMENITIES AND ONE SUBTERRANEAN PARKING LEVEL. OF THESE 30 UNITS, PLANS CALL FOR 3 AFFORDABLE HOUSING UNITS. THE PLANS WILL BE SUBMITTED SOON WITH TOC INCENTIVES FOR 70% BONUS DENSITY. PENDING APPROVAL OVER THE NEXT APPROX 12 MONTHS. OWNER HAS ANOTHER SIMILAR 30 UNIT PROJECT ACROSS THE STREET THAT IS ALSO SUBMITTED, PENDING APPROVAL AND MAY BE AVAILABLE FOR SALE. CURRENTLY THE EXISTING BUILDING IS A 4-PLEX WITH TOTAL MONTHLY RENTS OF $927, $772, $1200, $1050 WHICH ALL INCLUDE UTILITIES. PROPOSED RENTS ARE ESTIMATED BASED ON MARKET RENTS WHICH WILL BE RENT CONTROL FREE.
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Listing courtesy of Rodeo Realty - Beverly Hills

Amenities

  • Full baths
    0
  • Half baths
    0
  • Zip
    90057
  • Office name
    Rodeo Realty - Beverly Hills
  • SQFT
    0
  • Bedrooms
    0
  • Zoning type
    LAR4
  • Year built
    1904
  • Lot size
    7589.00
  • Tax year
    0
  • Agent name
    Joe Myers
  • Tax amount
    $ 0.0
  • Purchase Type
    Active
  • Price Range
    $1.75m-$2m
  • Square Feet Range
    < 1000 sq ft.
  • Year Built Range
    1989 (and earlier)
  • Office ID
    CLW-X7173802
  • Agent ID
    CLW-C117811

Location

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