Los Angeles Duplex For Sale: Developers and Investors, Don’t Miss This Opportunity!
Attention developers and investors! A fantastic opportunity has just hit the market in Los Angeles. A duplex located on a 7500 square foot lot in an Opportunity Zone is now available for purchase. With an R4 zoning and Tier 3 Transit Oriented Communities (TOC) rating, this property offers immense potential for those looking to capitalize on the city’s booming real estate market.
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This two-story Victorian house, coupled with a detached single unit at the rear of the property, presents a unique investment opportunity. The property currently has one electric and gas meter, and a city report indicates the presence of two addresses. Additionally, the county land use designates the property as a duplex.
The current owner has invested in major updates, including new electrical wiring, plumbing, and foundation, ensuring a solid and reliable structure. As the property will be delivered vacant, developers can immediately commence their plans without having to worry about tenant relocation or eviction proceedings.
One of the most enticing features of this property is its massive development potential. With an R4 zoning, developers can build up to 18 units or more on this lot. This presents an incredible chance to maximize profits and cater to the growing demand for housing in Los Angeles.
Furthermore, the property’s Tier 3 TOC rating provides additional incentives for developers. The TOC program aims to encourage the construction of affordable housing near transit hubs by offering increased density and reduced parking requirements. This means developers can take advantage of relaxed regulations, further enhancing the profitability of the project.
The location of this duplex also adds to its appeal. Los Angeles is a city known for its vibrant culture, diverse communities, and thriving economy. With this property situated in an Opportunity Zone, investors can benefit from tax incentives designed to stimulate economic growth in underserved areas.
Whether you are an experienced developer or an investor looking to expand your portfolio, this Los Angeles duplex offers an incredible opportunity. With a large lot size, favorable zoning, and a strong foundation, the property is primed for development.
Don’t miss out on this chance to turn this duplex into a lucrative housing project. Contact the listing agent today to schedule a viewing and begin exploring the endless potential of this property. Los Angeles is waiting for you to transform this diamond in the rough into a shining gem of the city’s real estate market.
5526 Lexington, Los Angeles, CA 90038