Property listed by Keller Williams Los Angeles, Michael R. Fukushima 562-334-1500
5879 Crenshaw Boulevard
Los Angeles, CA 90043
Acres
0.19
$2,300,000
Located at 5879 Crenshaw Blvd, Los Angeles 90043, the site sits on an approx. 8,418 SF lot zoned LAC2-2D-SP. The property is conveniently situated on the heavily trafficked, major North-South artery of Crenshaw Blvd, surrounded by neighboring essential retail and directly adjacent to Metro Line - Hyde Park Station. Listed… Read More for sale at $2,300,000, with a price per buildable unit of approximately $60,526. After completing our development analysis, we believe the development will feature 38 units with TOC tier 4 or even more units with 100% affordable. The property falls under several strategic zoning designations: LAC2- 2D-SP, Transit Oriented Communities (TOC) Tier 4, RPA Crenshaw/Slauson, a Hubzone, and the Los Angeles State Enterprise Zone. Positioned at the intersection of Crenshaw Blvd and W. 59th St, it is just one block from the K Line station at Crenshaw and Slauson. According to Governmental Code 69515, any 100% affordable housing can have unlimited density if it is located 0.5 mile within a Major Transit Stop. This property is part of the transformative developments along the Crenshaw Boulevard corridor, which have been spurred by the arrival of the K Line. It joins other affordable housing projects in the area, such as the Depot at Hyde Park and Hope on Hyde Park apartments.Currently, the site has a small vacant church and vacant duplex, both are ready for demo. This offering presents a unique redevelopment opportunity for investors seeking a feasible project in one of South L.A.'s strongest rental pocket. Buyer to verify all information. Read Less
Listing Snapshot
Days Online
70
Last Updated
Lot Size
0.19 Acres
MLS Number
25566151
Additional Details
Lot
0.1932 acres
Taxes
Parcel Number: 4005003012, Zoning: LAC2
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