12016 Figueroa Street

Los Angeles, CA 90061

$1,060,000

Listed Price
N/A

bed Beds

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shower Baths

N/A sqft

straighten $597 / sqft

calendar_month Built

Property Description

We are pleased to present for sale an (ED 1) Executive Directive 1 affordable development opportunity located in the Metropolitan Southwest neighborhood of Los Angeles, within close proximity to LAX, Sofi Stadium, Gardena, Downtown LA and much more! Current improvements include 4 residential units situated on two separate APN's: APN 6117004005 (City of LA) & APN 6117004027 (Unincorporated LA County), with the addresses 12016-12108 S Figueroa. The combined lot size of 11,362 sqft makes this a prime candidate for a 100% fully affordable apartment project (seller has had conversations with architect for a 70 unit fully affordable project). Take advantage of the ED 1 fully affordable program, which provides for expedited processing, higher density, and reduced setbacks through the ED1 Ministerial Approval Process. Property also comes with an alley which allows for maximized design and parking. All 4 units are currently tenant occupied and the property will be sold with tenants in place. Currently monthly income from the units is $3,200/month, collect income while going through entitlements! Buyer to verify all zoning & density regulations with LADBS, LA County, and all relevant departments. Close proximity to major transportation (105 & 110 Freeways). Do not miss this opportunity to build in a centrally located part of LA with tons of upside at an affordable price point. Contact listing agent for more details!

Interior Features

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

Listing Information

Address 12016 Figueroa Street
City Los Angeles
State CA
Zip 90061
County Los Angeles
Listing Agent Daniel Shamooelian DRE#01984269
Courtesy Of Keller Williams Beverly Hills
MLS 24374701
List Price $1,060,000
Status Active
Type Land
Structure Size N/A
Lot Size 11,362
DOM 8

Exterior Information

Maps

Listing information courtesy of: Daniel Shamooelian, Keller Williams Beverly Hills . *Based on information from the Association of REALTORS/Multiple Listing as of Apr 10th, 2024 at 5:09 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.