4272 Florence Avenue,Bell,Los Angeles,Land

Property Description

DRAMATIC $500K PRICE REDUCTION!! This is a Street to Street lot from Florence Ave. To Walnut St. Consisting of 35,728 sq.ft.. 105 feet of street frontage on Florence

The Northern half of the property is Zoned C-3R and the Southern 1/2 is zoned R3. The City Planing Department indicated that 24 Apartment units can be built on the site. Buyer to verify. This property has the same size lot and same zoning as the property located at 4324 Florence Blvd. . 4324 Florence blvd. is a 72 unit 46,399 sq. ft. property which is being run as a Senior Apartment Complex

4272 Florence Blvd. currently has just over 12,000 sq.ft of mixed use building built around 1920.

There is a single story 8,675 sq. Ft (which also has an additional 3,100 sq. Of mezzanine storage space).

The 8,675 sq. Ft building fronts Florence Ave and features 5 retail storefront units and 2 units that are rented as residential rental units.

Then there is a 4 bedroom + 2 bath 2,100 sq.ft. house on Walnut St.

Finally, a stand alone 2 story house of about 1,260 sq. Ft.

Currently, total rent is a very low $9,410/mo

The LA County property tax assessor recently appraised the property at $3.1M for property tax purposes.