This listing was posted on ListedBuy.
$695,000
552 W 40TH PL, Los Angeles, CA 90037 Multi Family For Sale MLS# 23-306503
Price:
$695,000
BR/BA:
5 BR, 5 BA
Location:
552 W 40TH PL, Los Angeles, CA
Description:
We are pleased to offer an excellent opportunity to purchase a value-add 5-unit apartment building in the fast-growing South LA submarket of Los Angeles. The property features five one-bedroom units, each with one-bath, on a large 6,751 square foot parcel zoned LARD1.5 TOC Tier 3. There are currently two vacant units at the property with an approximately 70% upside value in sales. The property is zoned LARD1.5 which allows for one small lot subdivision for every 1,500 square feet of land and then a 70% density bonus given the site sits in a TOC Tier 3 zone. So potentially a developer can build 7-8 small lot homes here. Excellent location in the heart of the South Figueroa Corridor just one block south of Exposition Park which includes BMO Stadium, the LA Memorial Coliseum, the California Science Center and the Natural History Museum of Los Angeles County. The University of Southern California is one mile north of the property. Easy access to the 110 Freeway brings you to downtown Los Angeles and beyond. This is a full-authority probate sale, not subject to court confirmation at this time. Per the estate's instructions, all offers will be reviewed on a shared day and time. Seller will prioritize offers that have no contingencies with the ability to close escrow quickly. First showing: Thursday 9/7 from 1-3:00 PM. Second showing: Sunday 09/10 from 1-3:00 PM. Third showing: 09/12 from 11:00 AM -1:00 PM. Offers due: Friday 09/15 by 1:00 PM. Still available at ListedBuy!
Property Type:
Multi-Family Residences for Sale
Sq feet:
2,200 sq. ft.
For sale by:
By Owner
Posted:
October 16 2023 on ListedBuy
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More About this Listing: 552 W 40TH PL, Los Angeles, CA 90037 Multi Family For Sale MLS# 23-306503
552 W 40TH PL, Los Angeles, CA 90037 Multi Family For Sale MLS# 23-306503 is a Five Bedroom 5.5 Bath Multi-Family Real Estate for Sale at 552 W 40th Pl in Los Angeles CA. Find other listings like 552 W 40TH PL, Los Angeles, CA 90037 Multi Family For Sale MLS# 23-306503 and listings near 552 W 40th Pl by searching Oodle Classifieds for Five Bedroom 5.5 Bath Multi-Family Real Estate for Sale in Los Angeles CA.
552 W 40TH PL, Los Angeles, CA 90037 Multi Family For Sale MLS# 23-306503 is a Five Bedroom 5.5 Bath Multi-Family Real Estate for Sale at 552 W 40th Pl in Los Angeles CA. Find other listings like 552 W 40TH PL, Los Angeles, CA 90037 Multi Family For Sale MLS# 23-306503 and listings near 552 W 40th Pl by searching Oodle Classifieds for Five Bedroom 5.5 Bath Multi-Family Real Estate for Sale in Los Angeles CA.