Los Angeles Duplex For Sale: A Lucrative Opportunity for Developers and Investors
Attention all developers and investors! A remarkable opportunity has just emerged in the heart of Los Angeles. A duplex located on a 7500 sf lot, nestled in an Opportunity Zone, is now available for purchase. With an R4 lot designation and a Tier 3 Transit Oriented Communities (TOC) Rating, this property offers immense potential for those in search of a profitable venture.
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Situated on the lot is a stunning 2-story Victorian house, exuding timeless charm and character. Additionally, a detached single unit is located at the rear (south) of the property. This unique configuration provides flexibility for various development plans, allowing for customization and optimization of space.
One notable advantage of this duplex is the presence of a single electric and gas meter, indicating the possibility of significant cost savings. Moreover, according to the City report, the property is recognized as having two addresses, further enhancing its potential for development.
The county land use designation for this property is duplex use, providing a clear path for developers to proceed with their plans. Furthermore, the current owner has reported recent upgrades including new electrical wiring, plumbing, and a new foundation. These updates not only add value to the property but also save potential buyers from costly renovations or repairs.
Perhaps the most enticing aspect of this duplex is the fact that it will be delivered vacant. This presents an opportunity for immediate development, without the hassle of dealing with tenants or the need for a lengthy eviction process. The property is a blank canvas, ready to be transformed into a lucrative investment.
Considering the size of the lot and the zoning regulations, this duplex offers incredible development potential. With an R4 designation, the possibility of constructing up to 18 units or more is within reach. This prospect is further enhanced by the property’s Tier 3 TOC Rating, which provides additional incentives for developers, such as increased density and reduced parking requirements.
Los Angeles is a thriving metropolis with a constant demand for housing, making this duplex an attractive investment option. With its prime location and ample space for development, this property promises substantial returns for those who seize the opportunity.
In conclusion, the Los Angeles Duplex For Sale presents an incredible opportunity for developers and investors. With a 7500 sf lot located in an Opportunity Zone, an R4 lot designation, and a Tier 3 TOC Rating, the potential for building up to 18 units or more cannot be overlooked. The 2-story Victorian house, along with the detached single unit, adds to the charm and adaptability of the property. With recent upgrades and the guarantee of being delivered vacant, this duplex is primed for development. Don’t miss out on this chance to tap into the lucrative real estate market of Los Angeles. Act now and unlock the huge development potential of this remarkable property!
5526 Lexington, Los Angeles, CA 90038