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MLS:24-437239

3313 48th, Los Angeles, CA 90043

Priced at: $1,295,000
Bedrooms:
23
Bathrooms (Full):
23
Bathrooms (Half):
0
Living Area SqFt:
11,596 Sq Ft
Lot SqFt:
7,750 Sq Ft
Year Built:
1935
We are pleased to offer for sale this vacant SB-8 exempt, corner lot development opportunity (Zoned C2) located in the vibrant Crenshaw district of Los Angeles. This 7,750 SF lot comes with Ready-to-Issue (RTI) plans for three (3) duplexes and four (4) Accessory Dwelling Units (ADUs), for a total of ten (10) market-rate units. The investment falls within an Opportunity Zone, excellent for tax benefits, and well located in one of LA's most dynamic and rapidly evolving neighborhoods, 0.3 miles from the Metro K-Line, Leimert Park Plaza, and the intersection of Crenshaw Blvd. & Leimert Blvd. The property is situated on a picturesque palm tree-lined street, surrounded by low-rise residential buildings, creating an attractive and community-oriented environment. This location offers the best of both worlds - a quiet residential feel with proximity to major urban developments and cultural landmarks. This offering presents a rare opportunity to develop a modern, multi-unit property in an area that combines rich cultural heritage with forward-looking urban planning. Notably, this project is exempt from SB-8 regulations, providing developers with greater flexibility in design and unit allocation. This exemption allows for potentially higher density and more creative use of space, maximizing the property's potential in this rapidly evolving market. The project is well-positioned to meet the growing demand for quality housing in this vibrant and up-and-coming area of Los Angeles, while benefiting from reduced regulatory constraints. The front duplex will feature two (2) 3+3 units, the middle duplex will feature a 3+2.5 unit and a 4+4.5 unit, and the rear duplex will feature two (2) 3+3-units. Each duplex features a recreation room that is designed to be converted to an ADU after the Certificate of Occupancy.

Fees

Features

Equipment/ Appliances:
  • None
Parking:
  • Other
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MLS: 24-437239
3313 48th, Los Angeles, CA 90043
Price: $1,295,000
Listing courtesy of KW Advisors

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"Property information shown has been provided from various sources, which can include the seller and/or public records. It is believed reliable but not guaranteed and should not be relied upon without independent verification."

Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. All dimensions are estimates only and may not be exact measurements. Square Footages are approximate. Floor plans and development plans are subject to change. The sketches, renderings, graphic materials, plans, specifics, terms, conditions and statements are proposed only, and the developer, the management company, the owners and other affiliates reserve the right to modify, revise or withdraw any or all of same in their sole discretion and without prior notice. All pricing and availability is subject to change. The information is to be used as a point of reference and not a binding agreement.

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