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$4,500,000
Est. payment /mo
14 Beds
12 Baths
8,286 SqFt
UPDATED:
02/13/2025 06:34 PM
Key Details
Property Type Multi-Family
Listing Status Pending
Purchase Type For Sale
Square Footage 8,286 sqft
Price per Sqft $543
MLS Listing ID 25490213
Bedrooms 14
HOA Y/N No
Year Built 1936
Lot Size 0.325 Acres
Lot Dimensions Assessor
Property Description
* Two Properties Being Sold - 110 S. Kings Rd ( APN:5511-016-003) and 116 S. Kings Rd (APN : 5511-016-004) - Must be Sold Together. The Offering is a unique opportunity to acquire a rare double lot spanning 14,000SF, zoned LA-R3 and eligible for Tier 2 TOIA (Transit Oriented Incentive Area).This prime location is nestled in one of Los Angeles' most sought-after rental markets, Beverly Grove, adjacent to the prestigious neighborhoods of Beverly Hills and West Hollywood. This exceptional offering is ideal for developers looking to leverage a covered land play. With the potential to construct up to 44 units utilizing the CHIP(Citywide Housing Incentive Program), or to pursue an ED1 Section 8 Low Income Housing project eligible for Tier 3 of HACLA, the possibilities are abundant. Currently, the properties feature six townhomes with an attractive unit mix: (2) 3BD/2BA and (4) 2BD/2BA units. Developers can offset carrying costs by earning approximately $19,500 per month while securing permits for redevelopment. Additionally, tenants will benefit from an impressive 90 Walk Score! Conveniently situated off 3rd Street, this location offers easy access to a myriad of upscale dining, shopping, grocery stores, and entertainment options.
Location
State CA
County Los Angeles
Area C19 - Beverly Center-Miracle Mile
Zoning LAR3
Interior
Heating None
Cooling None
Fireplace No
Exterior
Parking Features Driveway Down Slope From Street
Total Parking Spaces 12
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5511016003
Special Listing Condition Standard
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Listed by Michael Monempour • Lyon Stahl Investment Real Estate, Inc.