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$1,350,000
Est. payment /mo
0.31 Acres Lot
UPDATED:
12/31/2024 02:02 PM
Key Details
Property Type Vacant Land
Sub Type Other Residential Land
Listing Status Contingent
Purchase Type For Sale
MLS Listing ID CRPW24200945
Originating Board California Regional MLS
Lot Size 0.310 Acres
Property Description
This 13,500 SF vacant lot comes with plans and permits for a 9-unit small lot subdivision home development, 3 bed, 3.5 bath each, with total of 15,995 living square feet space. Homes are thoughtfully designed by award winning architect and include roof decks with expensive views. Similar new homes in the area sell north of $700/sqft, affording an exceptional double digit returns to prospective investors. The property is located among beautiful rolling hills and the Arroyo Seco Park between South Pasadena and Highland Park. Herman Park, dog park, Arroyo Seco Bike path and trendy Fesco Community Market are all steps away from the property. All permit fees paid and permits issued, including building, grading, retaining walls, plumbing, off-site sewer, street/sidewalk. Buyer may start building immediately after closing. Last remaining city fee to pay is the Quimby fee for LA City parks, which is approximately $90k, which can be paid anytime before certificate of occupancy for new homes. Otherwise, all city fees are paid. No LA City Linkage Fee because project is vested prior to this fee becoming active.
Location
State CA
County Los Angeles
Area 699 - Not Defined
Zoning LX
Exterior
View Hills
Others
Tax ID 5312005014
Special Listing Condition Not Applicable , Accepting Backups
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Listed by Saeed Ghaffari • Real Estate Legends USA
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Sharad Gupta
Broker | License ID: 02213637
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