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518 South PARK VIEW Street
Los Angeles (City), California, United States

Parking

Assigned.

Description

ATTENTION BUILDERS AND DEVELOPERS!! OPPORTUNITY ZONE !! ! LOCATED IN THE HEART OF WESTLAKE/MAC ARTHUR PARK AREA OF DOWNTOWN LA, HERE IS AN INCREDIBLE OPPORTUNITY TO BUILD A BRAND NEW 30 UNITS APARTMENT 6 STORIES BUILDING WITH ROOF TOP AMENITIES AND ONE SUBTERRANEAN PARKING LEVEL. OF THESE 30 UNITS, PLANS CALL FOR 3 AFFORDABLE HOUSING UNITS. THE PLANS WILL BE SUBMITTED SOON WITH TOC INCENTIVES FOR 70% BONUS DENSITY. PENDING APPROVAL OVER THE NEXT APPROX 12 MONTHS. OWNER HAS ANOTHER SIMILAR 30 UNIT PROJECT ACROSS THE STREET THAT IS ALSO SUBMITTED, PENDING APPROVAL AND MAY BE AVAILABLE FOR SALE. CURRENTLY THE EXISTING BUILDING IS A 4-PLEX WITH TOTAL MONTHLY RENTS OF $927, $772, $1200, $1050 WHICH ALL INCLUDE UTILITIES. PROPOSED RENTS ARE ESTIMATED BASED ON MARKET RENTS WHICH WILL BE RENT CONTROL FREE.

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Presented by

Rodeo Realty

Rodeo Realty
Click To Show Phone
Main: +1 310 471 2600
Fax: +1 310 471 2602

Joe Myers

Agent
Rodeo Realty
Click To Show Phone
Mobile: +1 323-863-5844
Main: +1 310-724-7100

Location

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