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    2832 Leeward Ave

    Los Angeles, CA 90005
    • $2,295,000
    • STATUS: Active
    • ON SITE: 79 days
    • ID#: 20-598048
    Price Reduced
    UPDATED: 70 min ago
    $2,295,000
    • 10
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,940
      SQFT
    • $465
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1928
    County:
    Area:

    School Ratings & Info

    Description

    100% vacant 5 unit building with 40-unit development potential in the heart of Koreatown priced at only 57k per buildable unit. The subject 9,417 SF lot is in an R4-2 zone with the benefits of TOC (Tier-3) & "Opportunity Zone" designations. Per LADBS, 40 units can be built using the TOC designation and 23 units by right. There are currently 2 structures on the property, totaling 4,940 SF and 5 units. The current improvements could provide cash flow during the entitlement process. Preliminary Plans call for 40 units (4 Affordable) and 33,700 SF of floor area in 6 levels of residential over 1 level of ground floor parking level and 1 level of semi-subterranean parking for a total of 31 parking spaces. The proposed unit mix includes 8 Junior 1-bedrooms, 12 Larger 1-bedrooms, and 20 2-Bedrooms units. Walking distance to Wilshire/Vermont Metro Station (0.4 mi), Restaurants and bars in Koreatown!

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-09-18T12:42:41.837. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.randyplaice.com/homes/107387000
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    2832 Leeward Ave Los Angeles, CA 90005

    • Price: $2,295,000
    • Status: Active
    • Updated: 70 min ago
    • ID#: 20-598048
    10
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    4,940
    SQFT
    $465
    $/SQFT
    1928
    Built
    Neighborhood:
    Mid-Wilshire
    County:
    Los Angeles
    Area:
    Mid-Wilshire
    Property Description
    100% vacant 5 unit building with 40-unit development potential in the heart of Koreatown priced at only 57k per buildable unit. The subject 9,417 SF lot is in an R4-2 zone with the benefits of TOC (Tier-3) & "Opportunity Zone" designations. Per LADBS, 40 units can be built using the TOC designation and 23 units by right. There are currently 2 structures on the property, totaling 4,940 SF and 5 units. The current improvements could provide cash flow during the entitlement process. Preliminary Plans call for 40 units (4 Affordable) and 33,700 SF of floor area in 6 levels of residential over 1 level of ground floor parking level and 1 level of semi-subterranean parking for a total of 31 parking spaces. The proposed unit mix includes 8 Junior 1-bedrooms, 12 Larger 1-bedrooms, and 20 2-Bedrooms units. Walking distance to Wilshire/Vermont Metro Station (0.4 mi), Restaurants and bars in Koreatown!
    Exterior Features

    Covered Parking 4 Direction Faces North Entry Location Living Room Exterior Construction Stucco Levels Two Lot Description Back YardFront Yard Lot Location City Lot Size Area 9417 Other Structures None Parking Garage DetachedGarageGarage - 4+ CarGarage Is DetachedTandemUncoveredOther Patio Features None Pool Description Fenced Pool YN Yes Roof FlatFlat Tile Spa None Spa YN No Sprinklers None Style Mediterranean Tennis Court None Tennis YN No Total Parking 5 View Description Peek-A-BooCity View YN Yes Water Frontage None

    Interior Features

    Baths Total 9.00 Common Walls Attached Cooking Appliances Gas/Electric Range Cooling None Equipment None Fireplace Rooms Living Room Flooring HardwoodMixedTile Foundation Details Raised Heating Wall Interior Features 2 StaircasesCommon WallsBasement - Partial Kitchen Features Ceramic Counters Laundry In Unit Laundry Equipment Own Water Heater Features Gas

    Property Features

    ADACompliance No Alley YN No Amenities None Disability Access None Gross Income 64164 Gross Operating Income 64164 Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Like Units5 1 Net Operating Income 26501.00 Number Of Buildings 2 Number Of Units 5 Owner Pays WaterGardener Property Condition Value Mainly In Land Rent Control YN Yes Sale Type Standard Security Features None Sewer In Street Source Living Area Owner Source Lot Size Area Assessor Tenant Pays GasElectricity Total Annual Expense 37663 Type Of Units Residential Water District Water Heaters YN Yes Year Built Source Assessor Zoning Lar4

    Listing provided courtesy of Armin Soleimani DRE#01846872 of Global Platinum Properties, Inc..


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-09-18T12:42:41.837. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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    Randy Plaice and Associates | RE/MAX
    27720 Dickason Drive
    Valencia CA, 91355