432 N Normandie Avenue

  • Los Angeles

  • $900,000
  • Acres
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Lot/LandDetails

Description & Essential
Description
We are pleased to present a 5,826 square foot rare development opportunity in Mid-Wilshire, Los Angeles. Located at 432 North Normandie Avenue, the property sits on a residential neighborhood adjacent to single-family homes and other multifamily properties. Tenants enjoy proximity to the 101 Freeway, and access to amenities on Santa Monica Boulevard, as well as Wilshire Boulevard. Currently the lot features a cash flowing duplex. The property has LAR3-1 zoning which allows for multifamily, and residential developments. This particular zoning has no Q Conditions. The unentitled offering has a potential to allow for a development of 7 units by right, and 12 units with the Tier 3 Transit-Oriented Community (TOC) density bonus. Seller has agreed to carry paper at an interest rate of 3.75%. The property presents an exciting opportunity for any investor to develop in the Mid-Wilshire market while benefiting from LAR3 Zoning in a Tier 3 TOC.
Essential
MLS #18380146
Price$900,000
Lot Square Feet≈ 5,827
CountyLos Angeles
StateCA
AreaC17 - Mid-Wilshire
ZoneLAR3
StatusActive Under Contract
Sale TypeStandard
Listing BrokerageMarcus & Millichap
Listing AgentJason Tuvia
Listing Agent BRE #01772495

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Based on information from California Regional Multiple Listing Service, Inc. as of Friday, September 14, 2018. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.