8931 Ramsgate Ave - PRICE REDUCED - Vacant Duplex LAR3 Land
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8931 Ramsgate Ave - PRICE REDUCED - Vacant Duplex LAR3 Land
2 Unit Apartment Building Offered at $1,195,000 in Los Angeles, CA 90045
Investment Highlights
- VACANT: Existing duplex is 100% vacant
- ED1: Property is ED1 eligible
- DEVELOPMENT: RTI plans in place for 16 units + 4 ADUs
Executive Summary
Price reduced! We are pleased to present 8931 Ramsgate Ave, a VACANT duplex located on 7,063 SF of LAR3 Tier 3 TOC zoned land! With the existing duplex (both 2 bed + 1 bath) being 100% vacant, there are numerous exit strategies that include the following: 1) Build 16 units + 4 ADUs utilizing the current RTI plans, 2) Renovate the existing Duplex + build new ADUs, 3) Utilize ED1 to construct 100% affordable housing project, or 4) Multiple duplex style build yield 4-6 large units.
Located in the heart of Westchester, tenants will have ease of access to the 405FWY, numerous employment opportunities, Loyola Marymount University, Venice Beach, Santa Monica, El Segundo, and LAX. Ownership has plans in place for a market rate 16-unit + 4 ADU development that can be included in a sale.
As a 100% affordable ED1 development, there's potential for up to 36 units with no parking requirements and an affordable stick on grade type construction. As a value-add project, a new owner can perform renovations on the existing units, both 2 bed + 1 bath units, and add additional ADUs by converting the existing rear garage. Buyer shall complete their own due diligence to determine the development potential.
Please contact Casey Lins at 714-333-6768 or Casey.Lins@kidder.com for additional information.
Located in the heart of Westchester, tenants will have ease of access to the 405FWY, numerous employment opportunities, Loyola Marymount University, Venice Beach, Santa Monica, El Segundo, and LAX. Ownership has plans in place for a market rate 16-unit + 4 ADU development that can be included in a sale.
As a 100% affordable ED1 development, there's potential for up to 36 units with no parking requirements and an affordable stick on grade type construction. As a value-add project, a new owner can perform renovations on the existing units, both 2 bed + 1 bath units, and add additional ADUs by converting the existing rear garage. Buyer shall complete their own due diligence to determine the development potential.
Please contact Casey Lins at 714-333-6768 or Casey.Lins@kidder.com for additional information.
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | $3,500 | - |
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zoning
| Zoning Code | LAR3 Tier 3 TOC |
| LAR3 Tier 3 TOC |
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Casey Lins -
Kidder Mathews
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8931 Ramsgate Ave - PRICE REDUCED - Vacant Duplex LAR3 Land
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