1037 ORANGE Drive, Los Angeles (City), CA 90019

$2,200,000
8
BD
4.5
BA
3,839
SqFt
List Price
$2,200,000
Status
Active
MLS#
18311784
Year Built
1926
Bedrooms
8
Bathrooms
4.5
Living Sq. Ft
3,839
Lot Size
8,226
Days on Market
188
Property Type
Multifamily

Property Description

Located in a rapidly transitioning area near Mid-Wilshire and Miracle Mile, the property consists of a duplex of 3,839 square feet on a 8,225 s.f. lot, with tremendous development potential. The downstairs unit consists of 4 bedrooms + a den and 2.5 bathrooms. Upstairs is 4 bedrooms and 2 bathrooms. An Owner-User Buyer will benefit from highly leveraged financing, available in today's financial landscape. On the other hand, a Developer could build up to 9 (nine) units, if an affordable housing component is incorporated into the overall project (at least 10% of a project -1 unit). The City of LA provides concessions to Developers, such as 0.5 parking spaces per unit, 40% more units by right and dramatically increased F.A.R. to 4.35, along with other density incentives under the New Transit-Oriented Communities (TOC) Plan which include a new height limit of 67 feet by right.

Additional Information

Heat
Other
Cooling
Other
View
Parking
Garage - Single Door

Mortgage Calculator

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Calculator source: Real Geeks

Courtesy of Hudson Commercial Partners, Inc., Darin Spillman - CA DRE#01366902

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