8115 S Figueroa Street

Los Angeles, CA 90003

PRICE REDUCED

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-$76,000 (-7.79%)

$899,000

List Price

7

bed Beds

5

shower Baths

2,248 sqft

straighten / sqft

1950

calendar_month Built

Property Description

Fantastic development opportunity. Eligible for new CHIP ordinance that can allow additional 50% density increase and significant parking reductions (See Docs). ED1 Eligible. Continue to rent out the property or develop this 6501 Sq Ft lot. Zoned LAC2 , this TOC Tier 1. With a FAR of 2.75 the total buildable area can be 17,877 sq. ft. Buyer to Verify with city planning for accuracy of all information. Property consists of one building with 6 separate units. Units 2,3,4,5 and 6 are studios. Unit 1 is a 2 bedroom / 1 bath and it was modified to a 3 bedroom / 1 bath without permits which is now rented on Airbnb 30day+ . The other 5 units are rented out on a month to month basis.

Listing Information

List Price $899,000
Status Active
MLS 24404581
Type Residential Income
Year Built 1950
Lot Size 6,501
Structure Size 2,248
DOM 86
Courtesy Of RE/MAX ESTATE PROPERTIES
Listing Agent Shamim Khorsand Mashhadi DRE#02042990

Interior Features

Total Bedroom
Bedrooms 7
Total Bathroom
Bathrooms 5
Cooling Type
Cooling Type None

Exterior Information

Maps

Listing information courtesy of: Shamim Khorsand Mashhadi, RE/MAX ESTATE PROPERTIES . *Based on information from the Association of REALTORS/Multiple Listing as of Sep 30th, 2024 at 6:21 PM 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.