Description

CALLING ALL DEVELOPERS, FLIPPERS, INVESTORS, CONTRACTORS, BUILDERS, END-USERS- First time in the market for over 50 years, Welcome to 770 N Alexandria Avenue a single family house in the heart of East Hollywood, just minutes from Larchmont, Los Feliz and Silverlake. This corner lot has PLANS FOR 5 Townhome UNITS that can be submitted soon or you can choose to do SB684, remodel add ADUS, SB8 EXEMPT! This 3 bedroom/ 1 bath home has a tons of potential and possibilities to remodel, or build new townhomes, add ADUS, remodel, do an addition, or use SB684 to build small lot subdivisions, there are a ton of options to add value. Positioned on a corner lot, there are significant benefits on a new development because of the amount of reduction of the side setbacks, making this lot be comparable to bigger lot sizes. The property is zoned LARD2 boasting close to 5,600 square feet of lot area , you can build 5 townhomes units, the options are endless! This house was owner occupied, will be delivered vacant and will be SB8 exempt! There are several remodeled homes and brand new construction apartment buildings in the surrounding area. Close to La City College, Virgil Village, Larchmont, Little Armenia, and many more. Easy access to shops, restaurants, and trendy cafes. Fantastic opportunity for contractors, developers, investors or end-users looking for a new project! PRICED BELOW ALL IN AREA AND BELOW MARKET PRICE AND THERE IS A SOLD COMPS NEARBY RANGING FROM $845,000 TO OVER $900,000. Remodeled houses sold from $1 to $1.349 million and the similar 4-5 townhomes brand new buildings comps sold for $3,000,000 to $3,850,000. THIS IS ONE OF THE BEST DEALS FOR FIXING/DEVELOPING AND INVESTING in the market! Buyer to verify all and do their own due diligence in regards to plans, ADU potential, SB8 and any other item.