PRICE REDUCED! We are pleased to present for sale a super rare TRIPLE LOT R4 development opportunity located near the city of Gardena! While the 3 lots feature a Gardena address, the lots fall under city of Los Angeles zoning = more favorable towards development!! Zoned LAR4-1, the site includes three APNs owned by a single owner: 6120-018-028, 029, 030 and is situated on a FLAT corner lot with alley = Optimal for design efficiency and parking access! Highest & Best Use of the site with R4 zoning: Land (19,801 sqft) + 1/2 Alley (1,500 sqft) = 20,626 sqft / 400 = 51 units buildable by right + 35% bonus which allows for a maximum of 71 units to be built using the Density Bonus program (only ~$52,000/door using Density Bonus). No Q-conditions or Specific Plans with this site!! Current improvements include 2 duplexes and a triplex, 6 of the 7 units are currently tenant occupied. Close proximity to Torrance, Hawthorne, Lawndale, the 110 Freeway and more! This site also has excellent potential for an Affordable Housing Development!! Recent state legislation incentivizes density bonuses with reduced parking requirements for affordable housing sites. Do not miss this opportunity to build in Gardena on a site that features one of LA's most attractive multifamily zoning designations! Current monthly income from the 6 units is approximately $17,250/month = collect decent income while going through the lengthy entitlement process. Please do not disturb current occupants, interior inspection subject to accepted offer only. Contact listing agent for more details!
Listing Office BRC Advisors- BH
Updated 4:20AM - 6/30/2022
Listing Agent Daniel Shamooelian, 310-651-1800
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