$495.83 Per Sq Foot $3,194 est/mo Sourced by Back At You

8411 S San Pedro Street,Los Angeles, CA 90003

Los Angeles CA, 90003

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Description

Great opportunity to own a rare and vacant church. Remodel it for use or repurpose it as desired. Sold for land value only making it a great deal. With new codes, the property also affords an opportunity for redevelopment to a residential income property with tremendous residential density bonuses. R-4 zoning plus TOC Tier 1, low income housing bonuses, and ADU laws, would allow for an excellent opportunity to build a large multi-family residential project. With both street frontage and alley access along the whole side of the property, makes it more conducive for various development choices and opportunities. Perhaps a 12 unit condo project with 12 separate private tandem 2 car garages with access along the alley? Check with the city and your architect and explore the myriad of opportunities this great property offers and for all the details related to redeveloping it to its highest and best use with the greatest density allowable with all bonuses and things considered. A new law, signed by Gov. Gavin Newsom, rezones land owned by religious institutions, such as churches, mosques, and synagogues, to allow for affordable housing. Starting in 2024, they can bypass most local permitting and environmental review rules that can be costly and lengthy. See SB 4. Extraordinary opportunity for a scarce, unique, and desirable property along a major thoroughfare for high density development. Sold in its present "as is" condition. No warranties of any kind or representations made regarding the property whatsoever. Buyer to conduct their own independent investigations. Standard sale. No court approval necessary. Property will be delivered tenant free at close of escrow. Because it is being sold for land value only, go directly to the property at any time and view it from the street and alley. Do not enter the property or disturb the tenant. Interior of property will be shown only with proof of funds provided along with loan pre-approval letter or letter of credit if financing is needed. If being purchased for church purposes, the buyer must have adequate funds/financing for both purchase and rehab.

Details

MLS#24392707
Listing TypeFor Sale
Sub-TypeResale
StatusActive Under Contract
Year1923
Days On Site11
Listing Provided ByDavid Bond 213-268-2663 | David Bond

Features

SQ Feet1,200
Story(s)1
ZoningLAR4
Acreage0.12

Market Activity 90003

MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the California Regional MLS.

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Learn More About This Property

StateCA
CountyLos Angeles
CityLos Angeles
Zip Code90003
AreaC37 Metropolitan South
Listing VS Median (in 90003)
Price:
$595,000
low | high
Med:
$686,500
34.621848739496% of Average
SqFt:
1,200
low | high
Med:
1,886
7.166666666667% of Average
$ / SqFt:
$496
low | high
Med:
$377
73.939079548268% of Average
On Site:
11
low | high
Med:
125.000000
8.8% of Average
Sourced by Back At You
Listing Updated: May 21, 2024 at 2:30:30 PM PDT