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3031 Buckingham Road
Los Angeles, CA 90016
Prime Development Opportunity in West Adams 3031 Buckingham Rd, Los Angeles, CA 90016: Attention Developers and Investors! This is an exceptional opportunity to acquire a 6,580 sq ft flat lot in the heart of the booming West Adams neighborhood, offering endless possibilities for a profitable fourplex or more development. The property is zoned LARD RD1.5-1, providing favorable zoning for maximizing density and affordable housing bonuses. Situated just steps away from West Adams Boulevard, this lot is within walking distance of some of the city's most popular dining spots, boutique shops, and social clubs, including Tartine, Mizlala, Alta Adams, The Gathering Spot LA, and more. This makes it a highly desirable location for future residents who want to experience the vibrant local lifestyle.For developers looking to sell off units as Tenancies in Common (TIC), this property presents a prime opportunity. Similar TIC projects in the area have shown remarkable success. Additionally, with the property located in an Opportunity Zone, there are significant tax benefits and incentives available, making it an attractive investment.Key Features: 6,580 sq ft flat lot with ideal zoning for multi-unit development, LARD RD1.5-1, zoning allows for increased density and affordable housing incentives, Prime West Adams location close to high-end dining, shopping, and entertainment, Ideal for TIC or rental property development in an area with strong demand Opportunity Zone benefits for long-term tax advantages, Proximity to major employment centers and transportation corridors. This is a rare chance to develop in one of Los Angeles' fastest-growing neighborhoods, with high rental demand and strong appreciation potential. Buyer to verify all information and conduct due diligence regarding the development possibilities. Don't miss out on creating a landmark project in one of LA's most sought-after areas!
PROPERTY INFORMATION
| MLS # | 24437751 | Lot Size | 6,580 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | N/A |
| Price | $ 1,000,000
Price Per SqFt: $ 152 |
DOM | 240 Days |
| Address | 3031 Buckingham Road | Type | Land |
| City | Los Angeles | Sq.Ft. | 6,580 Sq. Ft. |
| Postal Code | 90016 | Garage | N/A |
| County | Los Angeles | Year Built | |
| Bed / Bath | 0 / 0 | Parking | N/A |
| Built In | Status | Active | |
INTERIOR FEATURES
| Has Appliances | Yes |
EXTERIOR FEATURES
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $1,067
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 09/09/2024 | Listed | $1,000,000 |
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Listing provided courtesy of Joseph Norfleet, Bankers Realty Exclusive, Inc.. 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.
