$2,349,000

3105 Bellevue Avenue

Los Angeles CA, 90026

Description

A DEVELOPMENT OPPORTUNITY LOCATED IN THE TRENDY NEIGHBORHOOD OF SILVER LAKE. 3105 W. BELLEVUE AVE. IS SOLD WITH PLANS & PERMITS READY TO ISSUE (RTI) FOR A 26-UNIT MULTI-FAMILY APARTMENT WITH A GYM/REC-ROOM, AND A ROOFTOP DECK. THE PROPERTY HAS A C2 ZONING WITH TOC TIER 1. THE UNIT MIX IS COMPRISED OF TWENTY-FIVE (1+1 UNITS) AND ONE UNIT IS A (2-LEVEL TOWNHOUSE STYLE 1-BEDROOM AND A DEN WITH 2-BATHROOMS). FOUR OF THE 26 UNITS ARE DESIGNATED AS LOW-INCOME UNITS. THE PLANS CALL FOR 13 ON-GRADE PARKING SPACES. NO SUBTERRANEAN PARKING NEEDED, WHICH IS A HUGE SAVINGS ON TIME AND MONEY DURING CONSTRUCTION. THE BUILDING IS A 5-STORY APARTMENT BUILDING WITH A ROOFTOP DECK AND GREAT VIEWS FROM MOST OF THE UNITS. AFFORDABLE TYPE-V CONSTRUCTION WILL KEEP THE DEVELOPMENT COSTS DOWN. CURRENTLY IT SITS AS A 3-UNIT PROPERTY, WHICH WILL BE DELIVERED VACANT-ANOTHER TIME AND MONEY SAVER FOR THE BUYER. THE WATER AND POWER UTILITIES WILL BE SUB-METERED AND PAID BY THE TENANTS. THE BUILDING WAS DESIGNED WITH THE HIGHEST RETURN ON INVESTMENT IN MIND FOR THE DEVELOPER/LANDLORD. THERE IS MINIMAL DUCTING REQUIRED. EACH UNIT SHALL HAVE A VENT-LESS CLOTHES WASHER AND DRYERS. AS AN ADDED BONUS ($50K VALUE), THE PROPERTY HAS A CONDO TRACT MAP SUB-DIVISION APPROVED. SELLER IS OPEN TO A JOINT VENTURE AGREEMENT W/ THE BUYER/DEVELOPER.

Details

MLS#21695004
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Days On Site5

Features

ZoningLAC2
Acreage0.17
Water FrontNo
Property ViewYes
Loading Form
Loading Form
Area Information
StateCA
CountyLos Angeles
CityLos Angeles
Zip Code90026
Area671 - Silver Lake
Listing VS Median (in 90026)
Price:
$2,349,000
low | high
Med:
$899,000
100% of Average
On Site:
5
low | high
Med:
37
13.513513513514% of Average
Sourced by Back At You
Listing Updated: May 7, 2021 3:48:54 AM PDT
Fred Nabati LogoMLS Number: 21695004
Listing Provided By:
Fred Nabati  of  Trimax Realty Inc.
MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the California Regional MLS.