6101 Toltec Way

Description

This 13,500 SF vacant lot comes with plans and permits for a 9-unit small lot subdivision home development, 3 bed, 3.5 bath each, with total of 15,995 living square feet space. Homes are thoughtfully designed by award winning architect and include roof decks with expensive views. Similar new homes in the area sell north of $700/sqft, affording an exceptional double digit returns to prospective investors. The property is located among beautiful rolling hills and the Arroyo Seco Park between South Pasadena and Highland Park. Herman Park, dog park, Arroyo Seco Bike path and trendy Fesco Community Market are all steps away from the property. All permit fees paid and permits issued, including building, grading, retaining walls, plumbing, off-site sewer, street/sidewalk. Buyer may start building immediately after closing. Last remaining city fee to pay is the Quimby fee for LA City parks, which is approximately $90k, which can be paid anytime before certificate of occupancy for new homes. Otherwise, all city fees are paid. No LA City Linkage Fee because project is vested prior to this fee becoming active.

Listing information courtesy of: Saeed Ghaffari, Real Estate Legends USA . *Based on information from the Association of REALTORS/Multiple Listing as of 11/24/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.