2637 S Longwood Ave, Los Angeles, CA 90016

Property Description

RTI 4-UNIT DEVELOPMENT OPPORTUNITY IN PRIME WEST ADAMS! Exceptional opportunity to acquire a shovel-ready, Ready-to-Issue (RTI) fourplex development project featuring approximately 5,315 SF of buildable area and a highly desirable unit mix of three 3-bedroom units and one 4-bedroom unit. The thoughtfully designed project features spacious floor plans with open layouts, abundant natural light, large windows, wall-to-wall and double closets, large vanities, in-unit laundry, and on-site parking. Plans show two garage parking spaces, while the site has been designed to accommodate up to nine parking spaces. Upon completion, the property is projected to generate approximately $222,000 in annual gross rental income (buyer to verify), offering compelling economics at an asking price of just $975,000 (~$183/buildable SF). Ideally located in West Adams adjacent to Culver City, the property provides convenient access to major employment centers, transportation, shopping, dining and some of the area's most popular destinations, including Cento, Mizlala, Alta Adams, Highly Likely, Chulita and Tartine. With RTI plans already in place, a buyer can bypass much of the time, expense and uncertainty associated with the entitlement process and move toward construction. Architectural plans and Offering Memorandum available upon request. Buyer to independently verify all plans, permits, approvals, square footage, parking, projected rents/income, zoning and development information. Contact listing agent for additional details.