3434 Chesapeake Avenue,Los Angeles,Los Angeles,Land

Property Description

PRICE REDUCED! We are pleased to present a 100% vacant land development opportunity located in the heart of West Adams! Totaling +/-9,180sf of LARD1.5 Tier 3 TOC land, a new owner has the ability to capitalize on various exit strategies that include the following: 1) Current RTI plans for a market rate 10-unit + 2 ADU multi-family for- rent building, 2) 100% affordable housing up to 50 units (feasibility study available on request), 3) Subdivision for 4-6 homes, or 4) Multiple duplex style build yielding 6-10 large units. Located just steps away from the trendy Jefferson Blvd corridor that includes numerous amenities such as Highly Likely (local cafe) and the soon-to-be Maydan Market (food hall) that includes Michelin Star connected restaurant Compass Rose. Being just 0.1 miles away, a 3-minute walk, from the Farmdale Metro Rail Line station, tenants have the ability to easily access Santa Monica, Culver City, USC, LAX, and Downtown LA. Ownership has plans in place for a market rate 10-unit + 2 ADU development that can be included in a sale. As a 100% affordable ED1 development, there’s potential for up to 50 units with no parking requirements and an affordable stick on grade type construction. With its Opportunity Zone location, the property is well positioned for a developer seeking a well-located property with high rental demands that is nearby significant employment opportunities. Buyer shall complete their own due diligence to determine the development potential.