3105 Bellevue Ave, Los Angeles, CA 90026

$2,349,000
List Price
$2,349,000
MLS#
21-695004
Lot Size
7,498
Days on Market
45
Property Type
Land

Property Description

A DEVELOPMENT OPPORTUNITY LOCATED IN THE TRENDY NEIGHBORHOOD OF SILVER LAKE. 3105 W. BELLEVUE AVE. IS SOLD WITH PLANS & PERMITS READY TO ISSUE (RTI) FOR A 26-UNIT MULTI-FAMILY APARTMENT WITH A GYM/REC-ROOM, AND A ROOFTOP DECK. THE PROPERTY HAS A C2 ZONING WITH TOC TIER 1. THE UNIT MIX IS COMPRISED OF TWENTY-FIVE (1+1 UNITS) AND ONE UNIT IS A (2-LEVEL TOWNHOUSE STYLE 1-BEDROOM AND A DEN WITH 2-BATHROOMS). FOUR OF THE 26 UNITS ARE DESIGNATED AS LOW-INCOME UNITS. THE PLANS CALL FOR 13 ON-GRADE PARKING SPACES. NO SUBTERRANEAN PARKING NEEDED, WHICH IS A HUGE SAVINGS ON TIME AND MONEY DURING CONSTRUCTION. THE BUILDING IS A 5-STORY APARTMENT BUILDING WITH A ROOFTOP DECK AND GREAT VIEWS FROM MOST OF THE UNITS. AFFORDABLE TYPE-V CONSTRUCTION WILL KEEP THE DEVELOPMENT COSTS DOWN. CURRENTLY IT SITS AS A 3-UNIT PROPERTY, WHICH WILL BE DELIVERED VACANT-ANOTHER TIME AND MONEY SAVER FOR THE BUYER. THE WATER AND POWER UTILITIES WILL BE SUB-METERED AND PAID BY THE TENANTS. THE BUILDING WAS DESIGNED WITH THE HIGHEST RETURN ON INVESTMENT IN MIND FOR THE DEVELOPER/LANDLORD. THERE IS MINIMAL DUCTING REQUIRED. EACH UNIT SHALL HAVE A VENT-LESS CLOTHES WASHER AND DRYERS. AS AN ADDED BONUS ($50K VALUE), THE PROPERTY HAS A CONDO TRACT MAP SUB-DIVISION APPROVED. SELLER IS OPEN TO A JOINT VENTURE AGREEMENT W/ THE BUYER/DEVELOPER.

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Courtesy of , Fred Nabati - CA DRE#

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