DEVELOPMENT OPPORTUNITY: Build a 15 unit multi-family with the possibility to build up to 24 units (buyer to verify).

1146 S. Normandie Ave. Los Angeles, CA 90006

1146 S. Normandie Ave. , Los Angeles, CA, 90006
1146 S. Normandie Ave. , Los Angeles, CA, 90006 1146 S. Normandie Ave. , Los Angeles, CA, 90006 1146 S. Normandie Ave. , Los Angeles, CA, 90006 1146 S. Normandie Ave. , Los Angeles, CA, 90006 1146 S. Normandie Ave. , Los Angeles, CA, 90006 1146 S. Normandie Ave. , Los Angeles, CA, 90006 1146 S. Normandie Ave. , Los Angeles, CA, 90006 1146 S. Normandie Ave. , Los Angeles, CA, 90006 1146 S. Normandie Ave. , Los Angeles, CA, 90006 1146 S. Normandie Ave. , Los Angeles, CA, 90006 1146 S. Normandie Ave. , Los Angeles, CA, 90006 1146 S. Normandie Ave. , Los Angeles, CA, 90006 1146 S. Normandie Ave. , Los Angeles, CA, 90006
FOR SALE
Property Type:
Multifamily Land
Amount:
$1,325,000 to $1,000,000
Last Verified:
Oct 27, 2020

DEVELOPMENT OPPORTUNITY: Build a 15 unit multi-family with the possibility to build up to 24 units (buyer to verify) for sale in the highly sought after area of Koreatown. Located in the high demand rental area with new developments coming quickly and transportation close by. Existing 5,906 square foot lot Zoned R4 with the opportunity to utilize the Tier 2 Transit Oriented Community (TOC) incentive which allows the bonus density to build 15 units. With these TOC construction benefits it presents a great opportunity for a builder or investor. The current structure on the lot consists of three 1 bedroom 1 bath units with a $2,469 monthly income. Current development two doors north of subject is combined approx. 3 lots. Grading is in process. See images.


Map of 1146 S. Normandie Ave. , Los Angeles, CA, 90006

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.