Potential 10 Unit 'For Sale Development'
Land | 12,360 SqFt
Marketing description
Offered for Sale as a For Sale Development opportunity, the Property comprises approximately 14,000 square feet of land. It consists of 4 wood-frame buildings that must be torn down for development. The current Zoning is R3. Per the City Planning Department, the zoning allows for 30 units per acre with a density bonus for affordable housing. The Property has a total of approximately 12,360 buildable square footage due to a pending Easement/Parcel that currently serves as a Driveway, allowing access to an Apartment Building Located to the rear of the property at 6633 1/4th Pine, and is also available for sale.
The property can be purchased with the adjacent apartment building at 6633 1/4 - 6633 3/4 pine avenue.
Situated just to the North of Bell High School, the Property rests in a low-density clean residential neighborhood comprised of low-density single-family and multi-family living units and is just South of Gage Avenue.
Investment highlights
- Zoned R3 for potential 10-unit townhome or condominium development
- Possibility of greater density for affordable housing
- Seller is pro-development
- Desirable location in the South East Los Angeles area
- Situated in a low-density area amongst Single Family Homes and smaller Apartment Buildings
- Seller will work with Buyer to achieve a 'For Sale' development
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