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1050 Montecito Dr
Los Angeles, CA 90031
Land For Sale
·
8.59 AC
Property Facts
| Property Type | Land | Total Lot Size | 8.59 AC |
| Property Subtype | Residential | ||
| Zoning | RE20-1D | ||
| Property Type | Land |
| Property Subtype | Residential |
| Total Lot Size | 8.59 AC |
| Zoning | RE20-1D |
Description
SBS Radio Tower Site - Residential Development Opp The subject is a Special Purpose (Radio/TV Transmission) property totaling 3,000 SF of NRA located on an approximate 8.59-acre site at 1050 East Montecito Drive in Los Angeles, California. Current zoning is (Q)RE20-1D. Residential Development Opportunity! The site is improved with an older single family home that serves as a residence and houses transition equipment for the 9 antennas on the property. Located to the northwest of the home is a main 220' AM/FM transition tower that is leased along with other areas of the property to Spanish Broadcasting Systems on a 50 year contract that expires October 30, 2053. The tenant paid a significant up-front fee for the lease and pays $1 per year over the remaining term of the lease. There is currently no income from any of the other antennas. The single family home was built in 1948 and is in average condition. The main tower was installed in 1980 and appears to be structurally sound. APN 5207-028-007 and portions of -005, -006 and -008. Mountain top location in the center of Montecito Heights with 360 degree views of Downtown LA, Griffith Park Observatory, Hollywood Sign, Elysian Park, and Angeles National Forest - San Gabriel Mountains.
