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$1,350,000
Est. payment /mo
0.31 Acres Lot
UPDATED:
12/05/2024 07:25 PM
Key Details
Property Type Vacant Land
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID PW24200945
HOA Y/N No
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.
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 LARD1.5
Interior
Fireplace No
Exterior
Community Features Biking, Dog Park, Park
View Y/N Yes
View Mountain(s)
Building
Water Other
New Construction No
Others
Senior Community No
Tax ID 5312005014
Acceptable Financing Cash, Cash to New Loan, Submit
Listing Terms Cash, Cash to New Loan, Submit
Special Listing Condition Standard
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Listed by Saeed Ghaffari • Real Estate Legends USA • saeed@relegends.net
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HomeSmart Realty West
Broker | License ID: DRE#1905908
Broker License ID: DRE#1905908