2823 LEEWARD Avenue, Los Angeles, CA 90005

About this property

PROPERTY IS IN ESCROW. LOOKING FOR BACKUP. UNIQUE DEVELOPMENT OPPORTUNITY! BUILD 41 UNITS: $47,200 PER UNIT, UN-ENTITLED! SUBJECT Property is confirmed located within the brand new TOC designated qualified TIER-3 zone for a 70% DENSITY BONUS AWARD, yielding 41 residential units (10% of units Extremely low income) allowing for several on menu incentives to make this investment a monumental success! HUGE INCOME PRODUCING "UNENTITLED" lot Zoned R4-2. NO HEIGHT LIMIT! Excellent prime Koreatown adjacent location, walking distance to McArthur Park, 0.5mi to TWO METRO stations, and over 50,000 SQFT OF brand new COMMERCIAL RETAIL AMENITIES. Alternatively, a 23 unit, high end condo project can be built on this site. Immediate pocket area is undergoing massive gentrification with a minimum of 750 brand new apartment and condo units under construction. Currently 6 Tenants are living on property in a 4 unit building.

Listing description from the May 2018 sale, as reported to CRMLS.

Sale history

$2,200,000

Sold May 2018 · listed $2,300,000, orig. $2,100,000, on market September 2017 · MLS #17274110 · Source: CRMLS

Listing Agent: Tannaz Kamran-Rahbar · Listing Office: Keller Williams Rlty Brentwood · Contact: 310-826-8200 · Bought with: Tannaz Kamran-Rahbar · Keller Williams Rlty Brentwood

$2,200,000

Sold May 2018 · listed $2,300,000, orig. $2,100,000, on market September 2017 · MLS #17268014 · Source: CRMLS

Listing Agent: Tannaz Kamran-Rahbar · Listing Office: Keller Williams Rlty Brentwood · Contact: 310-826-8200 · Bought with: Tannaz Kamran-Rahbar · Keller Williams Rlty Brentwood

$1,600,000

Sold July 2017 · orig. $1,650,000, on market October 2016 · MLS #16168966 · Source: CRMLS

Listing Agent: Jon Emrani · Listing Office: Marcus & Millichap · Contact: 213-943-1800 · Bought with: Jon Emrani · Marcus & Millichap

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