Description
PRICE REDUCED! A great opportunity to build and hold. The projected return on investment will be 7%, projected sales price will be 7.4m, and projected cash flow collected will be approximately 1.348m within 5 years. We are pleased to present the opportunity to acquire a ready-to-issue ("RTI") development for a modern 15 unit building in prime Toluca Lake. The building is designed with on-grade parking and 3 floors of five units each (mirrored floorplans) for quick and easy construction. The projects building plans have received all LADBS approvals and clearances, so it is benefitted by a ready-to-issue building permit to allow for construction to commence on the day after close of escrow. The building consists of (13) one bedroom/one bathroom market rate units (no rent control!) and (2) two bedroom/one bathroom income restricted units. The units range from 579 SF - 867 SF, with an average of 709 SF. The building will be built on an already pancake flat 9,100 SF infill lot. The building is designed with luxury amenities: 1,600 SF of private rooftop deck, views, balconies, bicycle storage, controlled access, elevator, security system, washer/dryer, and 15 parking spaces. The property is located near new retail & residential development projects and within proximity to major transportation hubs. Buyer to independently verify the accuracy of all information through personal inspection & with appropriate professionals.
-
0BEDS
-
0.21ACRES
-
0BATHS
-
01/2 BATHS
School Ratings & Info
Description
PRICE REDUCED! A great opportunity to build and hold. The projected return on investment will be 7%, projected sales price will be 7.4m, and projected cash flow collected will be approximately 1.348m within 5 years. We are pleased to present the opportunity to acquire a ready-to-issue ("RTI") development for a modern 15 unit building in prime Toluca Lake. The building is designed with on-grade parking and 3 floors of five units each (mirrored floorplans) for quick and easy construction. The projects building plans have received all LADBS approvals and clearances, so it is benefitted by a ready-to-issue building permit to allow for construction to commence on the day after close of escrow. The building consists of (13) one bedroom/one bathroom market rate units (no rent control!) and (2) two bedroom/one bathroom income restricted units. The units range from 579 SF - 867 SF, with an average of 709 SF. The building will be built on an already pancake flat 9,100 SF infill lot. The building is designed with luxury amenities: 1,600 SF of private rooftop deck, views, balconies, bicycle storage, controlled access, elevator, security system, washer/dryer, and 15 parking spaces. The property is located near new retail & residential development projects and within proximity to major transportation hubs. Buyer to independently verify the accuracy of all information through personal inspection & with appropriate professionals.
Based on information from CRISNet MLS as of 2021-01-26T09:56:10.967. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
The information being provided by the CSMAR MLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties the visitor may be interested in purchasing. The data contained herein is copyrighted by CSMAR or one of CSMAR's datashare partners, and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the CSMAR MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.
Based on information from the i-Tech MLS as of 2021-01-26T09:56:10.967. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.