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$1,249,000
Est. payment /mo
7,021 Sqft Lot
UPDATED:
12/05/2024 04:37 AM
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID GD24184855
HOA Y/N No
Lot Size 7,021 Sqft
Property Description
Located at 11618 Victory Blvd, this single-family home is ready for demolition, less than a month away from RTI (Ready to Issue) permit, to build a 5-unit complex. Set in an area surrounded by high-demand apartment complexes, this project is perfect for investors looking to capitalize on the growing need for quality rental units. Each of the 5 units features 2 bedrooms, 2 bathrooms, and 1,200 sq. ft. of living space, with two units on the first floor and three on the second floor. With new construction properties commanding premium rents, this project offers a unique opportunity to build and hold for your portfolio, providing strong long-term cash flow or whether you're an experienced developer looking to flip for a significant return, the possibilities are endless. The heavy lifting has already been done – plans are less than a month away from approval! Prior to opening escrow, RTI plans will be presented. Close escrow and start the demolition right away. Take advantage of this rare chance to develop in a high-demand area with major upside potential. This is the investment opportunity you've been waiting for!
Location
State CA
County Los Angeles
Area Nho - North Hollywood
Zoning LAR3
Interior
Fireplace No
Exterior
Community Features Valley
View Y/N No
View None
Building
Water Public
New Construction No
Others
Senior Community No
Tax ID 2335026008
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition Standard
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Listed by Mike Babakhanyan • FIV REALTY CO