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1068 S Sherbourne Dr
Los Angeles, CA 90035
Land For Sale
·
0.14 AC
Investment Highlights
- Unique opportunity to acquire a vacant duplex with attractive zoning for multi-family development
- Both existing units have been vacant or owner-occupied the past 5 years, thus avoiding any "SB8-required low-income units" in the new project
- 6,168 sf corner lot - provides for "easier construction"
- LAR3 zoning in TOC Tier 3 area - Build up to 14 units utilizing TOC or 7 units "by-right"
- No headaches/costs associated with relocation of any tenants
Property Facts
| Property Type | Land | Proposed Use | Apartment Units |
| Property Subtype | Residential | Total Lot Size | 0.14 AC |
| Zoning | LAR3-1 - Commercial | ||
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Apartment Units |
| Total Lot Size | 0.14 AC |
| Zoning | LAR3-1 - Commercial |
Description
Seize this rare opportunity to transform a vacant duplex into a thriving multi-family development. Located in a desirable TOC Tier 3 area with LAR3 zoning, this property allows for the construction of up to 14 units through TOC or 7 units "by-right" (subject to confirmation by the buyer). The past 5 years of vacancy or owner-occupancy will exempt this property from any "SB8-required low-income units" (buyer to confirm), making it a “hassle-free” investment. The 6,168 sf corner lot simplifies the construction process, and the existing duplex (in need of some TLC) features 3 beds and 2 baths per unit. Don't miss out on this unique opportunity to bring your development vision to life.
Property Taxes
| Parcel Number | 4332-024-022 | Improvements Assessment | $452,676 |
| Land Assessment | $1,357,824 | Total Assessment | $1,810,500 |
Property Taxes
Parcel Number
4332-024-022
Land Assessment
$1,357,824
Improvements Assessment
$452,676
Total Assessment
$1,810,500
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