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1045 Vernon Avenue
Los Angeles, CA 90037
Great investment opportunity for a builder to develop, and investor to buy and hold or as an owner-user property. ED1 Eligible. Eligible for new CHIP ordinance that can allow additional 50% density increase and significant parking reductions (See Docs). Unveil the potential of a prime development opportunity located in a bustling area of Los Angeles. Zoned C2-2D-CPIO and designated as a TOC Tier 3 site, this property provides substantial incentives for increased density and reduced parking requirements. The generous lot size and significant allowable floor area make it ideal for developers aiming to construct a high-density project.Key Features:Extensive Buildable Area: The property covers 9,757 sq. ft. with a buildable square footage of 58,542 sq. ft., offering ample space for a significant development. Optimized density and parking efficiency may provide a 70% increase in allowable density and a 50% reduction in parking requirements, enhancing the project's feasibility and cost-effectiveness. It's strategic location offers easy access to major transportation routes and urban amenities, ensuring strong demand and sustained growth potential. Units are comprised of three 1/1's and one 3/1. All information given is deemed reliable but not guaranteed. Buyer and buyers agent should perform their own investigation to confirm accuracy of information including but not limited to lot size, zoning, building requirements and restrictions. Call listing agent for additional information regarding current rent roll. 3 of the units may be delivered vacant at close of escrow. Showings will be by appointment only with accepted offer subject to interior inspection.
PROPERTY INFORMATION
| MLS # | 24415361 | Lot Size | 9,757 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | N/A |
| Price | $ 1,300,000
Price Per SqFt: $ 364 |
DOM | 293 Days |
| Address | 1045 Vernon Avenue | Type | Residential Income |
| City | Los Angeles | Sq.Ft. | 3,574 Sq. Ft. |
| Postal Code | 90037 | Garage | N/A |
| County | Los Angeles | Year Built | |
| Bed / Bath | 0 / 0 | Parking | 2 |
| Built In | Status | Active | |
INTERIOR FEATURES
| Has Appliances | Yes |
| Kitchen Appliances | Refrigerator |
| Has Heating | Yes |
| Heating Information | Wall Furnace |
| Has Cooling | No |
| Cooling Information | None |
EXTERIOR FEATURES
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $1,387
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 07/15/2024 | Listed | $1,250,000 |
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Listing provided courtesy of Shamim Khorsand Mashhadi, RE/MAX ESTATE PROPERTIES. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. 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.
