$1,000,000
Est. payment /mo
6,581 Sqft Lot
Pending
3031 Buckingham RD Los Angeles, CA 90016
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UPDATED:
12/05/2024 03:27 AM
Key Details
Property Type Vacant Land
Listing Status Pending
Purchase Type For Sale
MLS Listing ID 24437751
HOA Y/N No
Lot Size 6,581 Sqft
Lot Dimensions Assessor
Property Description
Prime Development Opportunity in West Adams 3031 Buckingham Rd, Los Angeles, CA 90016: Attention Developers and Investors! This is an exceptional opportunity to acquire a 6,580 sq ft flat lot in the heart of the booming West Adams neighborhood, offering endless possibilities for a profitable fourplex or more development. The property is zoned LARD RD1.5-1, providing favorable zoning for maximizing density and affordable housing bonuses. Situated just steps away from West Adams Boulevard, this lot is within walking distance of some of the city's most popular dining spots, boutique shops, and social clubs, including Tartine, Mizlala, Alta Adams, The Gathering Spot LA, and more. This makes it a highly desirable location for future residents who want to experience the vibrant local lifestyle.For developers looking to sell off units as Tenancies in Common (TIC), this property presents a prime opportunity. Similar TIC projects in the area have shown remarkable success. Additionally, with the property located in an Opportunity Zone, there are significant tax benefits and incentives available, making it an attractive investment.Key Features: 6,580 sq ft flat lot with ideal zoning for multi-unit development, LARD RD1.5-1, zoning allows for increased density and affordable housing incentives, Prime West Adams location close to high-end dining, shopping, and entertainment, Ideal for TIC or rental property development in an area with strong demand Opportunity Zone benefits for long-term tax advantages, Proximity to major employment centers and transportation corridors. This is a rare chance to develop in one of Los Angeles' fastest-growing neighborhoods, with high rental demand and strong appreciation potential. Buyer to verify all information and conduct due diligence regarding the development possibilities. Don't miss out on creating a landmark project in one of LA's most sought-after areas!
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LARD1.5
Interior
Fireplace No
Exterior
View Y/N No
View None
Building
Lot Description Flat
New Construction No
Schools
School District Los Angeles Unified
Others
Senior Community No
Tax ID 5050026047
Acceptable Financing Cash
Listing Terms Cash
Financing Cash,Conventional
Special Listing Condition Standard
Listed by Joseph Norfleet • Bankers Realty Exclusive, Inc.
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