Thank you
Dario Svidler
Keller Williams Beverly Hills
310-432-6400
REDUCED. We are proud to exclusively present for a sale an ED1 Redevelopment Opportunity in Picfair Village, Los Angeles. Situated on S. Orange Grove Ave., between Pico Blvd. and Saturn St., this 7,125 SF [Q] R3-1-O Tier 3 lot is very close to the Pico & Fairfax intersection. The existing Triplex, consisting of all 1+1s, is vacant and perfect for a rehab and owner-user. The Project Plans are already submitted to Los Angeles Building and Safety and Letter of Determination has been issued. Consisting of eight 1+1 and eight 3+1 units, the Project has been designed with special attention to detail. Three of the units will be dedicated to Extremely Low Income households. With on-grade (and no subterranean) parking, this Project will provide 5 parking spaces. An alternative lucrative project can potentially utilize ED1 - for which this site is eligible. Dedicating 100% of the rental units to Affordable Housing can potentially increase the density of a redevelopment project to 39+/-units. The Two 100% Affordable Housing development scenarios that can potentially be built are: 31+/- units, 4 Story Type V Construction or 39+/- units, 5 Story Type III Construction. The neighborhood features average household incomes almost $117,000 in a 1 mile radius, showing that this area attracts a high-earning rental pool. This very central location, surrounded by a great variety of restaurants, nightlife and shopping, is walking distance to Vons and a short drive to LACMA, The Grove and The Farmers Market, among others. The area is designated as Very Walkable by Walk Score. Easy access to 10 freeway makes this property an easy to commute around Los Angeles.
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Total Baths: 0
Full Baths: 0
Half Baths: 0
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.1636
Lot Size Source: Assessor
Lot Size Square Feet: 7125
Original List Price: 1,599,000
Listing Contract Date: 2023-12-04
Listing Agreement: Exclusive Right To Sell
Parcel Number: 5068022031
Lease Term: Negotiable
Source Listing Status: Active Under Contract
Source Neighborhood: C16 - Mid Los Angeles
Postal Code Plus 4: 3721
Directions: East of Fairfax Ave. South of Pico Blvd.
Zoning: (Q)R3-1-O Tier 3
Source Property Type: Land
Area: C16 - Mid Los Angeles
Year Built Source: Vendor Enhanced
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
3617 W Venice Boulevard, Los Angeles, CA,90019 | $15,950,000 | 56 | -- | 27,448 | 15952 Sqft |
1714 S Marvin Avenue, Los Angeles, CA,90019 | $1,189,000 | 4 | 3 | 1,708 | 6662 Sqft |
4516 St Charles Place, Los Angeles, CA,90019 | $1,210,000 | 5 | -- | 3,097 | 7013 Sqft |
1269 S Citrus Avenue #8, Los Angeles, CA,90019 | $2,895 | 2 | 1 | -- | 6501 Sqft |
4620 Pickford Street, Los Angeles, CA,90019 | $950,000 | 3 | 1 | 1,632 | 5503 Sqft |
1612 S Sierra Bonita Av.., Los Angeles, CA,90019 | $1,650,000 | 3 | 3 | 2,506 | 5652 Sqft |
1385 1385-87 S Orange D.., Los Angeles, CA,90019 | $1,195,000 | 4 | -- | 2,285 | 6218 Sqft |
1415 S St Andrews Place, Los Angeles, CA,90019 | $2,799,000 | 12 | -- | 9,268 | 13166 Sqft |
1325 S Mansfield Avenue, Los Angeles, CA,90019 | $1,475,000 | 4 | -- | 3,087 | 6905 Sqft |
1089 S Orange Drive, Los Angeles, CA,90019 | $1,595,000 | 6 | -- | 3,696 | 9497 Sqft |
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ByOwner last updated this listing 05/22/2024 @ 22:14
MLS: 23336895
LISTED BY: Dario Svidler, Keller Williams Beverly Hills
SOURCE: CRMLS
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.