3313 W 48th St, Los Angeles, California, United States

Report Listing

Home For Sale

$1,295,000

3313 W 48th St
Los Angeles, California, United States

23bd 23ba

Listed By: Realtyww Info

Listed On: 09/13/2024

Listing ID: GL11185925 View More Details

Description

We are pleased to offer for sale this vacant SB-8 exempt, corner lot development opportunity (Zoned C2) located in the vibrant Crenshaw district of Los Angeles. This 7, 750 SF lot comes with Ready-to-Issue (RTI) plans for three (3) duplexes and four (4) Accessory Dwelling Units (ADUs), for a total of ten (10) market-rate units. The investment falls within an Opportunity Zone, excellent for tax benefits, and well located in one of LA's most dynamic and rapidly evolving neighborhoods, 0.3 miles from the Metro K-Line, Leimert Park Plaza, and the intersection of Crenshaw Blvd. and Leimert Blvd. The property is situated on a picturesque palm tree-lined street, surrounded by low-rise residential buildings, creating an attractive and community-oriented environment. This location offers the best of both worlds - a quiet residential feel with proximity to major urban developments and cultural landmarks. This offering presents a rare opportunity to develop a modern, multi-unit property in an area that combines rich cultural heritage with forward-looking urban planning. Notably, this project is exempt from SB-8 regulations, providing developers with greater flexibility in design and unit allocation. This exemption allows for potentially higher density and more creative use of space, maximizing the property's potential in this rapidly evolving market. The project is well-positioned to meet the growing demand for quality housing in this vibrant and up-and-coming area of Los Angeles, while benefiting from reduced regulatory constraints. The front duplex will feature two (2) 3+3 units, the middle duplex will feature a 3+2.5 unit and a 4+4.5 unit, and the rear duplex will feature two (2) 3+3-units. Each duplex features a recreation room that is designed to be converted to an ADU after the Certificate of Occupancy.

For more details:

Listed by: Davis Saadian

Other Residential Properties For Sale in Los Angeles, California, United States

Other Properties Near Los Angeles