4420 Broadway

Los Angeles, CA 90037

$3,425,000

Listed Price
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bed Beds

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shower Baths

N/A sqft

straighten $268 / sqft

calendar_month Built

Property Description

We are pleased to present a 24,710 square foot redevelopment site located at 4420 South Broadway in Los Angeles, California. The subject property is situated in a solid South Los Angeles location, south of East Vernon Avenue and west of South Main Street. This offering is positioned on one (1) parcel totaling 24,710 square feet (SF) of land with a zoning ordinance of LAC2-2D-CPIO where the D suffix is an alteration of some of the base development standards per the Community Plan Implementation Overlay. This allows for sixty-one units (61) units by-right, a maximum height of 60 feet by-right, and a FAR of 1.5:1 by-right. Additionally, this offering is granted ED1 eligibility, a recently passed program that allows an expedited process to 100% affordable developments. If used in conjunction with the State Density Bonus code 65915-65918, an ED1 project would have no maximum density, an allowance of three (3) additional stories and thirty-three (33) additional feet in height, and no parking requirement due to AB 2097. Five (5) additional concessions or incentives are granted under the State Density Bonus program. There is potential to stack these incentives with other programs such as TOC or the Los Angeles Density Bonus program, Buyer to verify. There is $95,280 in annual gross income which will stay in place while buyer goes through the entitlement process. All of the tenants are on month-to-month commercial leases. Positioned in a solid South Los Angeles location, this offering presents an excellent opportunity for an astute developer to purchase a large corner lot at a low price per square foot and potentially build over 100 units without any residential units to replace.

Interior Features

Bedroom Information
Bedrooms N/A
Bathroom Information
Bathrooms N/A

Listing Information

Address 4420 Broadway
City Los Angeles
State CA
Zip 90037
County Los Angeles
Listing Agent Jason Tuvia DRE#01772495
Courtesy Of Marcus & Millichap
MLS 24363855
List Price $3,425,000
Status Active
Type Land
Structure Size N/A
Lot Size 24,716
DOM 9

Exterior Information

Maps

Listing information courtesy of: Jason Tuvia, Marcus & Millichap . *Based on information from the Association of REALTORS/Multiple Listing as of Mar 9th, 2024 at 5:16 AM 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.