906 E 23Rd Street

Los Angeles, CA 90011

$1,595,000

List Price

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Property Description

A possible affordable housing development opportunity at 906 E 23rd Street, just south of Downtown Los Angeles. The 6,232 sq. ft. lot currently has an 8648 sq. ft. structure that will be delivered vacant at close of escrow. Located in a dense community with an easy commute to Downtown and close to multiple Metro local lines, Metro A Line (Blue) to Long Beach and Metro E Line (Gold) to Santa Monica. Located in a Transit Oriented Communities (TOC) Tier 3 which requires the City Planning to create incentives for all housing developments located within a one-half mile radius of a major transit stop with incentives to developers to create affordable housing. The property is located in the Opportunity Zone which offer incentives for investing in low-income communities. Opportunity Zones programs offer three tax incentives through a qualified Opportunity Fund. Property is also centered in the Enterprise Zone which the Federal, State and City governments provide economic incentives to stimulate local investment and employment through tax and regulation relief and improvement of public services. Located 2 miles from USC and the LA Convention Center, close to the Fashion District Downtown and the Los Angeles Trade Technical College. Maximum Unit Count is 4 (four) Units 2 units plus a 1,200 sq. ft ADU and a 500 sq. ft. JADU. Maximum Build Size is 10,800 sq. ft. for all livable structures. Heigth Limit is 3 Stories (33 ft.) Based upon the Trasit Oriented Community Tier 3 Zone, 3 units are allowed, plus 1200 sq. ft ADU and a 500 sq. ft. JADU with the TOC Bonus, Maximum Unit Count is 5 (five) units including ADUs. Maximum Build Size is 16,200 sq. ft for all livable structures. (Information provided by Flipro.) Contact LA1 for further information.

Listing Information

List Price $1,595,000
Status Active
MLS 24426808
Type Land
Lot Size 6,234
Structure Size N/A
DOM 29
Courtesy Of Coldwell Banker Realty
Listing Agent Herbert L McGurk DRE#01361267

Interior Features

Total Bedroom
Bedrooms N/A

Exterior Information

Maps

Listing information courtesy of: Herbert L McGurk, Coldwell Banker Realty . *Based on information from the Association of REALTORS/Multiple Listing as of Sep 10th, 2024 at 6:55 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.