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2861 Leeward Ave

Los Angeles, CA 90005
  • $2,495,000
  • STATUS: Active Under Contract
  • ON SITE: 21 Days
  • ID#: 22-115217
Under Contract
UPDATED: 45 min ago
$2,495,000
  • 0
    BEDS
  • 0.25
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Vacant Land / Lots
County:
Area:

School Ratings & Info

Description

We are pleased to present 2861 Leeward Ave - a ten (10) unit multifamily and future development opportunity located in prime Koreatown. The current wood frame stucco bungalow style units are situated on a large 10,828 SF corner lot zoned LAR4-2. The property is also located in a Tier 3 TOC zone which allows for a density bonus and for additional units to be built. Located in one of the densest areas in the United States, 2861 Leeward Ave presents an unbelievable opportunity for a potential investor to develop new apartment units now or in the future. The large 10,828 SF lot would allow a developer to build up to 27 units by right and up to 48 units with the TOC (transit oriented communities) bonus with no height restrictions (Buyer to verify). Furthermore, the corner location of the lot on Leeward and Magnolia allows for easier ingress and egress for a potential new structure. The property currently features: Six (6) One Bedroom / One Bath units, and Four (4) Two Bedroom / One Bath units. The units are all individually metered for gas and electric. Further, the property provides four (4) gated parking spaces, secured entry for the tenants, and an on-site laundry room that provides additional income. Most importantly, the large square footage of the lot and the corner location provide for an incredible development opportunity in an area that is seeing unbelievable expansion. Koreatown has been experiencing tremendous growth over the years and boasts one of the most highly diverse neighborhoods in California. There are several new construction projects being developed in the immediate area and this would be a fantastic location for a developer to realize their dream project. Don't miss this unique opportunity to own and develop real estate in one of the hottest rental markets in Los Angeles.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-01-26T11:49:46.497. 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.bringingyouhomescv.com/homes/124424522
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2861 Leeward Ave Los Angeles, CA 90005

  • Price: $2,495,000
  • Status: Active Under Contract
  • On Site: 21 Days
  • Updated: 45 min ago
  • ID#: 22-115217
0
Beds
0
Baths
0
½ Baths
0.25
Acres
Neighborhood:
Mid-Wilshire
County:
Los Angeles
Area:
Mid-Wilshire
Property Description
We are pleased to present 2861 Leeward Ave - a ten (10) unit multifamily and future development opportunity located in prime Koreatown. The current wood frame stucco bungalow style units are situated on a large 10,828 SF corner lot zoned LAR4-2. The property is also located in a Tier 3 TOC zone which allows for a density bonus and for additional units to be built. Located in one of the densest areas in the United States, 2861 Leeward Ave presents an unbelievable opportunity for a potential investor to develop new apartment units now or in the future. The large 10,828 SF lot would allow a developer to build up to 27 units by right and up to 48 units with the TOC (transit oriented communities) bonus with no height restrictions (Buyer to verify). Furthermore, the corner location of the lot on Leeward and Magnolia allows for easier ingress and egress for a potential new structure. The property currently features: Six (6) One Bedroom / One Bath units, and Four (4) Two Bedroom / One Bath units. The units are all individually metered for gas and electric. Further, the property provides four (4) gated parking spaces, secured entry for the tenants, and an on-site laundry room that provides additional income. Most importantly, the large square footage of the lot and the corner location provide for an incredible development opportunity in an area that is seeing unbelievable expansion. Koreatown has been experiencing tremendous growth over the years and boasts one of the most highly diverse neighborhoods in California. There are several new construction projects being developed in the immediate area and this would be a fantastic location for a developer to realize their dream project. Don't miss this unique opportunity to own and develop real estate in one of the hottest rental markets in Los Angeles.
Exterior Features

Lot Size Area 10828 View Description None View YN No

Property Features

Cable YN Yes Sale Type Standard Source Lot Size Area Vendor Enhanced Source Lot Size Dimensions Vendor Enhanced Zoning Lar4

Listing provided courtesy of Adrian Stepien DRE#01979555 of Kw Advisors.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-01-26T11:49:46.497. 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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Montemayor & Associates | RE/MAX of Santa Clarita
25129 The Old Road, Suite 114
Stevenson Ranch CA, 91381