5-Bedroom ResidentialIncome — 9024 Reading Avenue, Los Angeles, CA

About this property

Rare Westchester land/redevelopment opportunity in one of LA's most active TOC Tier 3 corridors. Single-story triplex on a 6,822 SF LAR3 lot, directly adjacent to a fully-permitted, under-construction 77-unit multifamily development, active proof of this pocket's density-bonus potential. Zoned LAR3, TOC Tier 3, within a Transit Priority Area and High Quality Transit Corridor. Ideal for a developer evaluating this corridor's redevelopment potential. The next door neighbor/owner has also indicated interest in selling his triplex as a package, which would make a combined 13,655 square foot lot. This is a land/entitlement play; pricing reflects the site's TOC Tier 3 density-bonus potential, not the existing triplex. Adjacent parcel to the north (9020 Reading) same tract, nearly identical lot size and zoning is owned by a confirmed, motivated seller. This creates a credible, near-term assemblage path for a buyer pursuing greater density under the neighborhood's TOC Tier 3 / density bonus framework see the 77-unit project currently under construction one parcel south (9030/9038 Reading) as a real precedent for what this corridor supports. RSO applies to subject; City data indicates a likely SB 330 replacement-housing consideration on any redevelopment scenario buyers should have counsel review before finalizing offers contingent on that path. Airport height overlay caps redevelopment at 100' above elevation 111. See TOC/density bonus eligibility flags (SB 9, SB 35, SB 79, SB 684) noted in listing file. Seller open to all reasonable offers. Property will NOT be delivered vacant. Sold as is with no repairs or termite. DISCLAIMER: All zoning, entitlement, density bonus/TOC, adjacent ownership/seller intent, adjacent construction, rent control, replacement housing, and other regulatory or factual information referenced herein is provided for informational purposes only, derived from third-party/public sources not independently verified by listing broker or seller, and not warranted as accurate or current.

Property details

Location

9024 Reading Avenue • Los Angeles, CA 90045

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Listed by

Derrick Ruiz · eXp Realty of Greater Los Angeles