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$6,000,000
Est. payment /mo
0.44 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Lots/Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR26013068
Lot Size 0.439 Acres
Property Sub-Type Lots/Land
Property Description
Property Highlights Include: TWO-PHASE OPPORTUNITY: Phase One: Secure, City-backed land lease & good rental income and Phase Two: Potential Multi-Residential development for sough after long-term housing. Great East Hollywood location, in vibrant and up and coming neighborhood. Property Overview: Lot Size: Approximately 19,110 square feet, Zoning: C2 RD1.5, Transit Oriented Communities (TOC): Tier 3 CURRENT USE: The site is presently leased to the City of Los Angeles as a future temporary housing facility, generating structured and escalating income while supporting critical community needs. Following the lease term, the property offers significant potential for residential development in a supply-constrained and transit-oriented submarket of Los Angeles. Projected Annual Income & Cap Rates and OM information available upon request. FUTURE USE: Potential multi-residential development responding to long-term housing demand. This property combines near-term cash flow with long-term upside, offering both financial stability and future growth potential. MOTIVATED SELLERS!
Location
State CA
County Los Angeles
Direction Near Western and Santa Monica Blvd.
Interior
Fireplace No
Exterior
View Y/N No
Others
Senior Community No
Tax ID 5536024008
Acceptable Financing Cash
Listing Terms Cash
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Listed by Edgar Koenig Ed Koenig IRE
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "