Address
2424 Michigan Avenue Los Angeles, CA
Price
$ 1,795,000
Property Attributes
  • MLS#0020607302
  • TypeLand
  • CountyLOS ANGELES
  • CityLos Angeles
  • AreaBoyle Heights
  • Zip90033
  • Style
  • Price$ 1,795,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size6,534 SqFt
Listing Provided Courtesy Of:
BRC Advisors- BH
Property Description

Amazing opportunity to acquire this affordable housing, development-ready site in East Los Angeles. The site is RTI to build 17 units designed as a 100% affordable housing project, and as such, takes advantage of density bonus incentives offered through the Transit Oriented Communities program in The City of Los Angeles. The building is designed to be economically and readily built, engineered for efficiency. In addition, ZERO parking is required, thereby providing tremendous savings on the cost of construction. This 100% affordable, 3-story multifamily development project proposes to provide 17 units with a unit mix of all one-bedroom, one-bathrooms - each with it's own private balcony or patio. The project also includes a bicycle room and on-site laundry. Currently, the property is a vacant lot so there are no relocation or demolition costs for the Buyer. Projected Developer Profit: ~$2,500,000!!!

Price History
9/16/2020 Listed $1,795,000

General Features

MLS Area BOYH - Boyle Heights
Zoning LAR3

Exterior Features

Land Lease Type Fee
Lot Size Acres 0.15
Lot Size Area 6704.0
Lot Size Square Feet 6704.0
Lot Size Units Square Feet

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 90033

Price
AVG $2.12M
$1.8M
Visits
AVG 19
1
Walkscore
AVG 93
93
Data Provided by Walkscore ® not using MLS data

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