210 N Berendo Street Los Angeles, CA 90004
The subject property is a 1, 635 SF home on a flat 7, 499 SF lot. The zoning is LAR3 - Tier 3 TOC. Located just 0.2 Miles away from the Metro Red Line Station at Beverly and Vermont, tenants can benefit from the great location and numerous eateries nearby. The ownership has conceptual and architectural plans to build 19units. Of the 19 proposed units (17 units plus 2 ADU's), ten are to be 2 bedroom / 2 bathroom units and nine are tobe 1 bedroom / 1 bathroom units. Alternatively take advantage of the ED-1 eligibility and build 21 low income housing units (17 units plus 4 ADU's) with no parking required and save considerable amount of time and construction costs.A savvy investor can also take advantage of the Red Line, focus on an Affordable Housing Project and forgo all parking requirements for the highest and best use of this land and potentially build 21 units. Property currently has a Family Child Care tenant that is paying $5, 407.50 per month ($64, 890 year) and the term is set to expire at the end of March 2025. Benefit from the income producing tenant while going forward with the planning and development process.As a result of the neighborhood's charm and desirability, there is robust demand for housing and long-term rent growth. The asset's location along with the development incentives are an excellent acquisition for a developer or long term investor.
- Property TypeSingle Family Home
- NeighborhoodN/A
- CountyLos Angeles
- Taxes$0
- HOA/Condo/Coop Fees$0
- Days on Site49 Days
- MLS StatusActive
- MLS ID Number24373603
- Home Size Source N/A
- Year Built1921
- Lot Size0.1722 Acres
- Full Baths2
- Partial BathsN/A
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General Features
- Parking Driveway
- Parking Spaces 1
- Number of Stories 11
- Acreage 0.1722
- Property Sub Type Single Family Residence
- Zoning LAR3
- Listing Conditions Standard
- Property Condition Updated/ Remodeled
Interior Features
- Furnished? Unfurnished
- Laundry Features See Remarks
Exterior Features
- View City LightsHills
- Spa No
- Pool Features None
- Spa Features None
Community Features
- Senior Community No
- MLS Area C17 - Mid-Wilshire