Log In/Sign Up
Your email has been sent.
14,000+ Sq Ft of Land in Prime Beverly Grove 110-116 S Kings Rd 6 Unit Apartment Building $4,450,000 ($741,667/Unit) 3.39% Cap Rate Los Angeles, CA 90048
INVESTMENT HIGHLIGHTS
- AAA + Prime Beverly Grove Location Adjacent to West Hollywood & Beverly Hills
- TIER 2 TOC (60% Bonus, + 45% FAR + 11 Ft Height Bonus)
- TIER 3 HACLA - ED1 SECTION 8 Low Income Housing
- RARE Double Lot consisting of +14,000 Zoned LA R3 - Dimensions (W 108X D 131)
- ELIGIBLE for a 36 Unit Redevelopment + 8 ADU for a total of 44 Units (Only 4 Low Income Replacement)
- COVERED Land Play - Allows for a developer to earn income while working on entitlements
EXECUTIVE SUMMARY
The Offering is a unique opportunity to acquire a rare double lot spanning 14,000 SF, zoned LA-R3 and eligible for Tier 2 TOIA (Transit Oriented Incentive Area). This prime location is nestled in one of Los Angeles' most sought-after rental markets, Beverly Grove, adjacent to the prestigious neighborhoods of Beverly Hills and West Hollywood.
This exceptional offering is ideal for developers looking to leverage a coveted land play. With the potential to construct up to 44 units utilizing the CHIP (Citywide Housing Incentive Program), or to pursue an ED1 Section 8 Low Income Housing project eligible for Tier 3 of HACLA, the possibilities are abundant. Currently, the properties feature six townhomes with an attractive unit mix: (2) 3BD/2BA and (4) 2BD/2BA units. Developers can offset carrying costs by earning approximately $19,500 per month while securing permits for redevelopment.
Additionally, tenants will benefit from an impressive 90 Walk Score! Conveniently situated off 3rd Street, this location offers easy access to a myriad of upscale dining, shopping, grocery stores, and entertainment options.
This exceptional offering is ideal for developers looking to leverage a coveted land play. With the potential to construct up to 44 units utilizing the CHIP (Citywide Housing Incentive Program), or to pursue an ED1 Section 8 Low Income Housing project eligible for Tier 3 of HACLA, the possibilities are abundant. Currently, the properties feature six townhomes with an attractive unit mix: (2) 3BD/2BA and (4) 2BD/2BA units. Developers can offset carrying costs by earning approximately $19,500 per month while securing permits for redevelopment.
Additionally, tenants will benefit from an impressive 90 Walk Score! Conveniently situated off 3rd Street, this location offers easy access to a myriad of upscale dining, shopping, grocery stores, and entertainment options.
PROPERTY FACTS
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 4 | - | 1,150 - 1,200 |
| 3+2 | 2 | - | 1,800 |
1 1
Walk Score®
Walker's Paradise (95)
1 of 26
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
14,000+ Sq Ft of Land in Prime Beverly Grove | 110-116 S Kings Rd
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.