Description
WARNER CENTER DEVELOPMENT - LA City Council recently approved Promenade 235, which is clearing the way for a sprawling development less than a mile away from subject property. This newly approved development will include a new sports arena, two hotels, a 28-story office tower and more than 1,400 new apartments. Currently 100% occupied, this 6-unit multi-family building sits on a 9,003 sf parcel allowing a developer to earn income while plans and entitlements are underway. Eased building restrictions in the Warner Center allow for up to 40-units with NO HEIGHT RESTRICTIONS. Special zoning only requires 1/2 parking spaces per unit and there are NO REQUIREMENTS FOR AFFORDABLE HOUSING. This property is also located in an OPPORTUNITY ZONE, giving the developer an opportunity to build 40 units and in 10 years sell the property and pay ZERO CAPITAL GAINS TAX! Please do NOT disturb the Tenants!
-
0BEDS
-
0.2ACRES
-
0BATHS
-
01/2 BATHS
-
4,380SQFT
-
$468$/SQFT
School Ratings & Info
Description
WARNER CENTER DEVELOPMENT - LA City Council recently approved Promenade 235, which is clearing the way for a sprawling development less than a mile away from subject property. This newly approved development will include a new sports arena, two hotels, a 28-story office tower and more than 1,400 new apartments. Currently 100% occupied, this 6-unit multi-family building sits on a 9,003 sf parcel allowing a developer to earn income while plans and entitlements are underway. Eased building restrictions in the Warner Center allow for up to 40-units with NO HEIGHT RESTRICTIONS. Special zoning only requires 1/2 parking spaces per unit and there are NO REQUIREMENTS FOR AFFORDABLE HOUSING. This property is also located in an OPPORTUNITY ZONE, giving the developer an opportunity to build 40 units and in 10 years sell the property and pay ZERO CAPITAL GAINS TAX! Please do NOT disturb the Tenants!
Based on information from California Regional Multiple Listing Service, Inc. as of 2021-03-04T16:33:27.19. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Realty ONE Group Southwest. Licensed in the State of California, USA.