1236 Hi Point Street, Los Angeles
$1,885,000 - 4 Beds, 2 Baths, 2,880 SfMLS® # 24385595
$1,950,000
Click the arrows next to the image to browse our photo gallery for this property.
ATTENTION ALL DEVELOPERS, REMODELERS & MULTI-UNIT INVESTORS! Exciting opportunity in a prime location! This two-story duplex, nestled on a 6,384 sq. ft. lot zoned {Q}-LA-R3-O and under TOC Tier 2 (Transit Oriented Communities), offers immense potential. Each unit, comprising 2 beds and 1 bath, currently houses tenants with rents of $2,720/month and $1,665/month, respectively. This property also boasts an exceptional Pedestrian Friendly rating of 9.6 out of 10, highlighting its accessibility and appeal to a wide tenant base. The true value lies in its future possibilities: Plans have been submitted for final approval and will be RTI within a short period for a transformative 14,000 sq. ft., 4-story apartment building with 26 affordable housing units, promising a significant transformation and lucrative investment opportunity. This lot is ripe for various ventures, including renovation for rental upside, ground-up development of the approved 26-unit affordable housing apartment complex, condominium & small lot subdivision projects, as well as additions of ADUs. The R3 zoning offers flexibility, allowing developers to explore other variances with the city of Los Angeles as applicable. Buyer is advised to conduct thorough due diligence and verify all remodel & development possibilities. This is not just a property; it's a gateway to a multitude of lucrative opportunities in one of the most sought-after areas. Seize this rare chance to invest in a property that promises not just a return on investment, but also a significant contribution to the urban landscape of one of the most sought-after neighborhoods.
C19 - Beverly Center-Miracle Mile
Dishwasher, Disposal, Microwave, Refrigerator
MLS® # 24385595
MLS® # 24378469
MLS® # 24382393
Based on information from California Regional Multiple Listing Service, Inc. as of May 4th, 2024 at 5:30pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.