Price
$ 1,500,000

4652 E Gratian, Los Angeles, CA 90022  

4652 E Gratian, Los Angeles, CA 90022  

Price includes APN 5247-024-020 a 24,689 sq. ft. parcel. Together both parcels total of 35,814 sq. ft. of R-2. A developer may build up to 32 market rate units on these two parcels 'by-right'' and/or should one wish to take advantage of California's SB1818 law and apply for the density bonus incentive for additional units to be constructed. Both parcels must be sold together. They are located one and a half blocks from the Gold Line stop at Third Street and Mednik Avenue. The Gold Line is one of six Metro Rail systems serving 21 stations throughout Los Angeles County that transports passengers from Pasadena in the north to Long Beach in the south and Azusa in the east and to Santa Monica in the west. Seller may finance the sale with 20% down depending on buyer's financial statement; and accept the down payment as advance interest to shelter buyer's taxable income and also postpone buyer first payment for two years. The price is $41.88 per square foot which compares well with other development property sold in the area. Cielito Lindo a 52 unit complex at 1st & Soto Stretts is being built on three parcels totaling 22,392 sq. ft. that sold for $45.44 per sq. ft.

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Listing Type
Vacant Land
Listing ID
TR16032056
Lot Size
0.27 acres
Listing Status
Active
County
Los Angeles
Zoning
R2
Taxes
1873.0
TaxID
5247023018
Listing courtesy of Richard Strickland~Richard Strickland; Broker
Houses for Sale Nearby
    Listing Information Provided By:
    RE/MAX RESOURCES
    101 North Indian Hill C1 208 Claremont, CA 91711 | Phone: (909) 398-1166
    RE/MAX RESOURCES is licensed in the state of California CalBRE License #: 01019252
    EACH OFFICE INDEPENDENTLY OWNED AND OPERATED.