$780,000
$795,000
1.9%For more information regarding the value of a property, please contact us for a free consultation.
0.28 Acres Lot
SOLD DATE : 10/20/2023
Key Details
Sold Price $780,000
Property Type Vacant Land
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CV23034588
Sold Date 10/20/23
HOA Y/N No
Lot Size 0.278 Acres
Property Description
One of the only opportunities to develop 5 units in the up and coming city of Bell, this property is currently in the process for approval of the development of 5 units. 3 units will be 3 bedrooms 2 bathrooms (total of 2581 sq.ft) and 2 units will be 2 bedrooms 2 bathrooms (3906 sq.ft). The current house standing is a 2 bedroom one bath on a huge 12,109 sq.ft lot (Zoning BLR3). This property is ripe for picking, near by new development have sold in the range of 500k-600k per unit and at CAP rate around 4%. Current market rents are ranging from $2,200-$2,600 for newly developed 2 bedroom units, and $3,000-$3,400 for newly developed 3 bedrooms units. Project plan check is 75% completed.
Location
State CA
County Los Angeles
Area 699 - Not Defined
Zoning BLR3
Interior
Fireplace No
Exterior
Community Features Valley
View Y/N No
View None
Building
Water Public
New Construction No
Others
Senior Community No
Tax ID 6327037007
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Conventional
Special Listing Condition Standard
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Bought with Taffy Bishara • RE/MAX OLYMPIC
GET MORE INFORMATION
Broker Associate | Lic# 00870450