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compared to 47.38% rented, while
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Massive Development Opportunity. At this time one could build up to 20 market-rate units on this property, and by mid to late 2025 under the new "Boyle Heights Community Plan" and by utilizing the "Community Benefit Program" one could construct up to 36 units, encompassing 32 market-rate units and 4 low-income units. According to ZIMAS the property is not subject to HPOZ.
>>>FRESH BACK ON THE MARKER<<< ALERT ALERT!! All investors & Developers, take a look at this amazing opportunity to acquire this amazing development that is fully "RTI"- ready to build 20 units multi-family dwelling in prime and high demand area of Boyle Heights. The building will consist of 3 stories! Total building square feet = 14,349. On the 1st floor will consist of 4 units (1 bedroom, 1 bath, on the 2nd floor 6 units (4 units 1 bedroom, 1 bath & 2 units - Studio, on the 3rd floor - 6 units (4 units - 1 bedroom, 1 bath + 2 units studios. And as per seller! Only 3 units are to be for low income and the rest are standard market rental value. This amazing development is walking distance to 1st Street shops & dining restaurants, Mariachi Plaza, and only blocks away from the Arts District Area, USC Medical Center, White Memorial Hospital and 6th street bridge, with easy access to the 5,10,60 and 101 freeways & walking distance to the newly completed Metro Gold Line station at East 1st Street. So, don't hesitate and let this great development opportunity get away.
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Based on information from CRISNet MLS as of 4/19/2024. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
