6313 S Victoria Avenue

Description

Great investment opportunity for builders, investors and owner-users. Buy and hold or develop. ED1 Eligible. Eligible for new CHIP ordinance that can allow additional 50% density increase and significant parking reductions (See Docs). 3 of 4 units may be delivered vacant. Units mix is two 1/1 and two 2/1. An exceptional development opportunity. This R3-1 zoned property, designated as a TOC Tier 3 site, offers substantial incentives for increased density and reduced parking requirements. With a generous lot size and significant allowable floor area, this parcel is ideal for developers looking to create a high-density, multifamily residential project in a promising area of Los Angeles.Key Features include ample Buildable Space: The property spans 11,384 sq. ft. with a buildable square footage of 34,152 sq. ft., offering substantial room for development. Optimized Density and Parking Efficiency: Benefit from a 70% increase in allowable density and a 50% reduction in parking requirements, enhancing the project's feasibility and profitability. Its proximity to major transportation routes and urban amenities ensures strong demand and long-term growth potential, making it a highly attractive investment opportunity. All information provided deemed reliable but not guaranteed. Buyer and buyers agent to investigate all building and zoning requirements including but not limited to lot size, to their satisfaction. Call listing agent for additional details on current rent roll.

Listing information courtesy of: Shamim Khorsand Mashhadi, RE/MAX ESTATE PROPERTIES . *Based on information from the Association of REALTORS/Multiple Listing as of 11/09/2024 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.