REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Listed by HAGOP YAPOUJIAN • HYNET REALTY
$ 999,999
Est. payment /mo
Price Dropped by $200K
Los Angeles, CA 90032
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID MB-26121326
Year Built 1952
Property Sub-Type Mixed Use
Source California Regional Multiple Listing Service (CRMLS)
Property Description
MISSION LOFTS – 22-UNIT MULTIFAMILY DEVELOPMENT OPPORTUNITY. Rare opportunity to acquire a three-parcel assemblage totaling approximately 13,510 SF in Northeast Los Angeles. The property includes plans for a proposed 22-unit multifamily apartment development featuring contemporary architecture, three stories over subterranean parking, and approximately 31,458 SF of proposed building area. The project is a Density Bonus development with plans reportedly approximately 70% complete. Survey, geotechnical work, architectural plans, site plans, floor plans, elevations, and development studies have been completed. Proposed unit mix includes studios, one-bedroom, two-bedroom, and three-bedroom units with 29 subterranean parking spaces. Strategically located near Los Angeles General Medical Center, USC Health Sciences Campus, Cal State LA, Downtown Los Angeles, major employment centers, public transportation, and regional freeways. The surrounding Northeast Los Angeles corridor continues to benefit from public and private investment, new residential development, healthcare expansion, and urban infill growth. Ideal opportunity for developers, builders, and investors seeking a substantially advanced multifamily development project in a supply-constrained Los Angeles submarket. Buyer to independently verify all information, zoning, development potential, approvals, plans, reports, permits, and entitlements.
Location
State CA
County Los Angeles
Area 621 - El Sereno
Zoning [Q]C2-1
Interior
Laundry None
Building
Lot Description Value In Land, Lot 10000-19999 Sqft, Near Public Transit, Rectangular Lot, Corner Lot