The subject property for sale is a prime development opportunity located at 210 N Berendo Street, Los Angeles CA 90004. 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. Zoned LAR3-1 with a… Read More lot area of 7500 sq. ft., the site offers multiple development options under current zoning and recent legislative incentives. This site presents significant upside potential through various development pathways, including maximizing density through ED1 affordable housing incentives or Small Lot Subdivisions. The Citywide Housing Incentive Program (CHIP) Ordinance enables streamlined project review procedures and introduces new incentives for eligible project types in order to expand access to affordable housing near transit, jobs, along corridors, and in higher opportunity areas. Through ED-1 you can potentially build 50+ units. Please consult a qualified architect, structural engineer, and dry utility consultant to verify the physical feasibility and ensure compliance with relevant building codes and standards. A savvy investor also benefits from of the current cash flow the property is generating through the current tenant in place while going through the planning and development process. Property currently has a Family Child Care tenant that is paying $6,000 per month ($72,000 year) and the term is set to expire at the end of March 2026. 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. Read Less
$1,499,000
Listing Snapshot
Days Online
1
Last Updated
Property Type
Single Family Residence
Beds
3
Full Baths
2
Square Ft.
1,635
Lot Size
0.17 Acres
Year Built
1921
MLS Number
25525441
30 Days Snapshot Of 90004
$1,443k
-11%
(avg) sold price
11
-21%
homes sold
62
+51%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1921, Building area total: 1,635, Levels: One, Living area: 1635, 1 story, Architectural style: SeeRemarks, Common walls: NoCommonWalls
Laundry
SeeRemarks
Lot
0.1722 acres, 7,502 square feet, Size: 7,502
Parking
1 total parking
Pool
SeeRemarks
Property
Zoning: LAR3
Spa
None
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. 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.
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