Description
On offer is a Duplex (consisting of two house) that has been removed from the rental market through the Ellis Act. Units were vacant at time of Ellis Act Removal. Property is in an Opportunity Zone. Zoning allows for an 18 Unit Development Opportunity in the quickly changing Lincoln Heights neighborhood of Los Angeles. A Buyer can reverse the removal from the rental market or can continue the 18 Unit Entitlement work (with 2 affordable units) started by the Seller and with a Demo Permit in the Clearance Stage. The oversized 9,099 SF R3-1 Tier 1 lot has 55 feet of frontage allowing for simpler designs to max the parking scenario if a Buyer were interested in doing a smaller project for ease, speed & economy. With LAC+USC Medical Center a few blocks to the south, the LA Brewery Artist Colony to the west, this location is quickly becoming a premier neighborhood. Solar Panels have been removed. Zimas lists 3 units. HCIDLA lists 2 units. Sold as-is, where is. Value is in the land.
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