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843 N Formosa Avenue

Los Angeles (City), CA 90046
  • $3,650,000
  • STATUS: Active
  • ON SITE: 71 Days
  • MLS #: 22200205
UPDATED: 31 min ago
$3,650,000
  • 0
    BEDS
  • 0.35
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Vacant Land / Lots
County:

School Ratings & Info

Listing Agent(s): Dario Svidler of Keller Williams Beverly Hills (310-432-6400)


Description

$100k REDUCTION! We are proud to exclusively present for sale two side-by-side residential income buildings in Los Angeles with great potential for redevelopment! These West Hollywood adjacent properties are as centrally located as centrally located gets, with easy access to all scales of dining, great nightlife, all the shopping on Melrose Ave. and Santa Monica Blvd. and just about anything a tenant could desire within a quick grasp! With a combined 15,400 SF of (Q)R3-1XL Tier 1 land, these properties are a great land-bank for your future, with income available right now. The Duplex features two side-by-side 2 bedroom, 1 bathroom units in a picturesque building dating to 1925. The two homes share a spacious 2,254 SF, five one car garages in back, and additional surface parking that can comfortably fit 4 cars. The Six Unit Building features six side-by-side units which are comprised of 2 studios and four 1 bed / 1 bath homes. The Building dates to 1930 and the units share 3,050 SF with six open air parking spaces in back. As a land-bank opportunity, the base density would translate to 12 units, while the Tier 1 TOC pushes that up to 20 units. There is always the potential to then add additional units through ADU permitting. WeHo-Adjacent with the City of LA's Building and Safety that allows for higher density. Just a hop and a skip to the West Hollywood Gateway Shopping Center with Target, Best Buy, dining and more, or head south to Melrose with all the nightlife that is on offer. Just down the street from the La Brea Corridor and Poinsettia Park. A very trendy neighborhood with strong demand from renters!

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-11-26T07:31:44.767. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Zia Group | eXp Realty. Licensed in the State of California, USA.
www.theziagroup.com/homes/133129860
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843 N Formosa Avenue Los Angeles (City), CA 90046

  • Price: $3,650,000
  • Status: Active
  • On Site: 71 Days
  • Updated: 31 min ago
  • MLS #: 22200205
0
Beds
0
Baths
0
½ Baths
0.35
Acres
Neighborhood:
C10 - West Hollywood Vicinity
County:
Los Angeles
Area:
C10 - West Hollywood Vicinity
Property Description
$100k REDUCTION! We are proud to exclusively present for sale two side-by-side residential income buildings in Los Angeles with great potential for redevelopment! These West Hollywood adjacent properties are as centrally located as centrally located gets, with easy access to all scales of dining, great nightlife, all the shopping on Melrose Ave. and Santa Monica Blvd. and just about anything a tenant could desire within a quick grasp! With a combined 15,400 SF of (Q)R3-1XL Tier 1 land, these properties are a great land-bank for your future, with income available right now. The Duplex features two side-by-side 2 bedroom, 1 bathroom units in a picturesque building dating to 1925. The two homes share a spacious 2,254 SF, five one car garages in back, and additional surface parking that can comfortably fit 4 cars. The Six Unit Building features six side-by-side units which are comprised of 2 studios and four 1 bed / 1 bath homes. The Building dates to 1930 and the units share 3,050 SF with six open air parking spaces in back. As a land-bank opportunity, the base density would translate to 12 units, while the Tier 1 TOC pushes that up to 20 units. There is always the potential to then add additional units through ADU permitting. WeHo-Adjacent with the City of LA's Building and Safety that allows for higher density. Just a hop and a skip to the West Hollywood Gateway Shopping Center with Target, Best Buy, dining and more, or head south to Melrose with all the nightlife that is on offer. Just down the street from the La Brea Corridor and Poinsettia Park. A very trendy neighborhood with strong demand from renters!
Exterior Features

Parking Total 0 View YN Yes

Property Features

Additional Parcels YN Yes Association YN No Listing Agreement Exclusive Right To Sell Listing Service Full Service New Construction YN No Senior Community YN No Special Listing Conditions Standard Zoning (Q)R3-1Xl Tier 1



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-11-26T07:31:44.767. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Zia Group | eXp Realty. Licensed in the State of California, USA.
 
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The Zia Group | eXp Realty
10 E Yanonali St #11
Santa Barbara CA, 93101
Listing Agent(s): Dario Svidler of Keller Williams Beverly Hills (310-432-6400)