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$2,350,000
Est. payment /mo
0.29 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID CL25562331
HOA Y/N No
Lot Size 0.291 Acres
Acres 0.29
Property Sub-Type Unimproved Land
Property Description
We are pleased to present a multifamily or mixed-use development opportunity at 1411 & 1415 W 11th Street in the dynamic Pico Union neighborhood of Los Angeles. These two contiguous parcels total approximately 12,678 square feet of flat land, with combined dimensions of 100 by 126 feet on street-to-street lots. Both parcels are improved with income-producing apartment buildings and offer significant redevelopment and value-add potential.The site qualifies for Transit Oriented Communities Tier 2, the Mixed Income Incentive Program (MIIP) Opportunity Corridor, and the Citywide Housing Incentive Program (CHIP). These programs allow for more units, higher floor area ratio, greater height, and significant reductions or elimination of parking requirements for projects that include affordable housing. Under the State Density Bonus Law (AB 2345 and AB 1287), developers who set aside at least 10% of units for very low-income tenants or 20% for low-income tenants can combine state and city bonuses to achieve more density and additional incentives. Projects that are 100% affordable may be eligible for unlimited density and no parking requirements. Executive Directive 1 (ED1) also allows 100% affordable housing projects to qualify for expedited, fast-track city approvals.Strategically locate
Location
State CA
County Los Angeles
Zoning C1-1
Interior
Fireplace No
Building
New Construction No
Others
Tax ID 5137012009
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Listed by Dario Svidler • Keller Williams Beverly Hills
_Our #1 priority is to find and attract mastery-based agents to partner with, protect our culture, and support our clients needs and desires."
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