Are you a developer or investor looking for a lucrative opportunity in Los Angeles? Look no further than this incredible Los Angeles duplex for sale. Situated on a spacious 7,500 square foot lot in an Opportunity Zone, this property offers immense potential for those seeking to maximize their investment.
One of the key highlights of this property is its R4 lot zoning, which allows for the construction of up to 18 units or even more. With the added advantage of a Tier 3 Transit Oriented Communities (TOC) Rating, the development possibilities are truly endless. This unique combination of zoning and rating provides a golden opportunity for developers and investors alike to capitalize on the growing demand for housing in this thriving city.
The property itself features a charming 2-story Victorian house, exuding character and historical charm. Additionally, there is a detached single unit located at the rear (south) of the lot, further adding to the versatility of this property. The existing infrastructure includes 1 electric and gas meter, and a city report indicates the presence of 2 addresses, confirming the property’s duplex use.
Noteworthy is the fact that the owner has recently undertaken significant upgrades, including new electrical, new plumbing, and a new foundation. This ensures a solid and modern foundation for any future development. Furthermore, the property will be delivered vacant, eliminating any potential complications or delays associated with tenant eviction.
Considering its prime location in Los Angeles and the extensive development potential, this property presents an incredibly attractive opportunity for developers and investors. Los Angeles is a city with a constant demand for housing, making this duplex an ideal investment for those looking to capitalize on the ever-growing market.
Moreover, the property’s location within an Opportunity Zone provides additional tax incentives and benefits to potential investors, making it even more enticing. The Opportunity Zone program, established by the federal government, aims to stimulate economic growth in designated areas by offering tax advantages to investors.
With all these factors combined, it is clear that this Los Angeles duplex for sale is a remarkable opportunity for developers and investors. Don’t miss out on the chance to build a lucrative multi-unit development in a prime location. Seize this opportunity and unlock the huge development potential that awaits in this thriving city.
5526 Lexington, Los Angeles, CA 90038