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Home / Eric Moreno / USC-Area LARD1....

USC-Area LARD1.5 Lot w/ Alley Access | Flip or Build | $620K

$630,000 • 3 Beds / 2 Baths • 1,148 SqFt
Pending
Offer Submission Deadline
  • Single Family House
  • 3
  • 2
  • 1905
  • 1148
  • 5229
  • Detached Garage

Description

VIRTUAL TOUR LINK: CLICK HERE


Overview

A 1905 SFR on a 5,229 sf LARD1.5 lot with alley access, east of Normandie near USC and Exposition Park. It works as a value-add flip or a development site. The house functions as a 3/2 plus a bonus room and a basement, all beyond the 1,148 sf of record. The block is actively redeveloping. The lot directly across the alley shares the same LARD1.5 zoning and has been built out with two new buildings, 16 bed / 14 bath total (2022).


NUMBERS

  1. Price: $620,000
  2. Rehab estimate: $105,000 (internal SOW)


SITE

  1. Zoning: LARD1.5
  2. Lot: 5,229 sf, 40 x 131, alley at rear
  3. Base density: 3 units (1 per 1,500 sf)
  4. Transit proximity may qualify for density incentives under LA's MIIP / TOIA program (formerly TOC). Buyer to verify tier and yield.
  5. Across the alley: same zoning, redeveloped to two buildings, 16 bed / 14 bath, 6,260 sf (built 2022)


PROPERTY

  1. SFR, built 1905, single level plus basement
  2. Record: 2 bed / 1 bath, 1,148 sf
  3. As used: 3 bed / 2 bath plus enclosed rear bonus room and basement, not in record sf. Permit status unverified.
  4. Detached garage and covered parking off the alley
  5. No HOA


TERMS

  1. Occupancy at close: Vacant
  2. Walkthrough: Reach out to schedule: (949) 886-5369


Disclaimers

IMPORTANT: Buyer is responsible for conducting their own due diligence. All information provided is believed to be accurate but not guaranteed. This opportunity is offered to qualified real estate investors only. This is not a retail property listing and no real estate agent relationships are implied or established through this marketing material.

Time-sensitive opportunity - this contract is being offered to multiple investors

Estimated Spread

  • Price $620,000
  • Spread -$620,000

Eric Moreno

Disposition Manager
Phone (949) 886-5369
Email eric@nuhometeam.com
Make an Offer Buy now for $630,000

Note

Reach out to schedule a showing.

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