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Don't miss out on this fantastic opportunity to acquire a sizable lot near Larchmont Village! Nestled on a serene, tree-lined street, this meticulously maintained triplex exudes charm and is situated in a welcoming neighborhood. Spanning an impressive 7,258 square feet, with dimensions of 50 feet by 145 feet, this property boasts a zoning designation of TOC Tier 2 R3. It's a prime prospect for small lot developers, offering ample potential as an end product. Under Tier 2 TOC (Transit Oriented Community) guidelines, there's a significant 60% maximum increase permitted in the number of units, beyond what the zoning typically allows. In addition to its appeal for developers, there's also a tremendous opportunity for value creation by renovating the existing building and incorporating ADUs (Accessory Dwelling Units). This strategy can transform the property into a lucrative income-generating asset, offering an alternative to new construction. With the potential to maximize rental income through strategic renovations and additional units, this approach enhances the property's investment potential. Conveniently positioned near all amenities, including Larchmont Village, Paramount Studios, local grocery stores, restaurants, shopping outlets, and Melrose cafes. Plus, the proximity to the new Target development on Sunset & Western, just 4 minutes away, adds another layer of convenience.

DAYS ON MARKET 14 LAST UPDATED 4/18/2024
YEAR BUILT 1911 COMMUNITY Hancock Park-Wilshire
COUNTY Los Angeles STATUS Active
PROPERTY TYPE(S) Residential Income


ADDITIONAL DETAILS
APPLIANCES Refrigerator
AREA Hancock Park-Wilshire
BUYER'S BROKERAGE COMPENSATION 2.500 %
GARAGE Assigned
HEAT Wall Furnace
LOT 7260 sq ft
LOT DIMENSIONS 50x145
PARKING Assigned
STORIES 2
ZONING LAR3
MORTGAGE CALCULATOR
   

TOTAL MONTHLY PAYMENT

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Listed with Keller Williams Larchmont

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Based on information from California Regional Multiple Listing Service, Inc. as of 5/1/24 1:08 PM PDT and /or other sources. 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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