3313 W 48Th Street

Los Angeles, CA 90043

$1,295,000

List Price

23

bed Beds

23

shower Baths

11,596 sqft

straighten / sqft

1935

calendar_month Built

Property Description

We are pleased to offer for sale this vacant SB-8 exempt, corner lot development opportunity (Zoned C2) located in the vibrant Crenshaw district of Los Angeles. This 7,750 SF lot comes with Ready-to-Issue (RTI) plans for three (3) duplexes and four (4) Accessory Dwelling Units (ADUs), for a total of ten (10) market-rate units. The investment falls within an Opportunity Zone, excellent for tax benefits, and well located in one of LA's most dynamic and rapidly evolving neighborhoods, 0.3 miles from the Metro K-Line, Leimert Park Plaza, and the intersection of Crenshaw Blvd. & Leimert Blvd. The property is situated on a picturesque palm tree-lined street, surrounded by low-rise residential buildings, creating an attractive and community-oriented environment. This location offers the best of both worlds - a quiet residential feel with proximity to major urban developments and cultural landmarks. This offering presents a rare opportunity to develop a modern, multi-unit property in an area that combines rich cultural heritage with forward-looking urban planning. Notably, this project is exempt from SB-8 regulations, providing developers with greater flexibility in design and unit allocation. This exemption allows for potentially higher density and more creative use of space, maximizing the property's potential in this rapidly evolving market. The project is well-positioned to meet the growing demand for quality housing in this vibrant and up-and-coming area of Los Angeles, while benefiting from reduced regulatory constraints. The front duplex will feature two (2) 3+3 units, the middle duplex will feature a 3+2.5 unit and a 4+4.5 unit, and the rear duplex will feature two (2) 3+3-units. Each duplex features a recreation room that is designed to be converted to an ADU after the Certificate of Occupancy.

Listing Information

List Price $1,295,000
Status Active
MLS 24437239
Type Residential
Subtype Single Family Residence
Year Built 1935
Lot Size 7,750
Structure Size 11,596
DOM 8
Courtesy Of KW Advisors
Listing Agent Davis Saadian DRE#01921748

Interior Features

Laundry Information
Location(s) None
Total Bedroom
Bedrooms 23
Total Bathroom
Bathrooms 23
Fireplace Information
Features None

Exterior Information

Maps

Listing information courtesy of: Davis Saadian, KW Advisors . *Based on information from the Association of REALTORS/Multiple Listing as of Sep 17th, 2024 at 12:10 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.