Description
We are pleased to present a Unique Development Opportunity at 736 E Vernon Avenue, Los Angeles, CA. This property consists of a Single-Family Home, built in 1908, situated on a large 27,748 SF lot, offering significant development potential in the heart of Southeast Los Angeles. Zoned RD2-1 and designated as Low Medium II Residential under the General Plan, the site provides flexibility for both 100% Affordable Housing Market Rate Development, making it a prime opportunity for developers. In addition, the property benefits from Transit Oriented Communities (TOC)Tier 3 status, which offers developers density bonuses, reduced parking requirements, and other incentives, further enhancing the development potential of the site. Positioned to benefit from the ongoing growth and revitalization in the area, this sizable lot and zoning allow for various Residential development projects, offering developers the chance to capitalize on the increasing demand for housing in Southeast Los Angeles. The property is also located within 500 feet of George Washington Carver Middle School, adding to its appeal for residential development. With a Walk Score of 73, the neighborhood is considered "Very Walkable," with excellent transit options, making it attractive for those seeking easy access to amenities and public transportation.
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School Ratings & Info
Description
We are pleased to present a Unique Development Opportunity at 736 E Vernon Avenue, Los Angeles, CA. This property consists of a Single-Family Home, built in 1908, situated on a large 27,748 SF lot, offering significant development potential in the heart of Southeast Los Angeles. Zoned RD2-1 and designated as Low Medium II Residential under the General Plan, the site provides flexibility for both 100% Affordable Housing Market Rate Development, making it a prime opportunity for developers. In addition, the property benefits from Transit Oriented Communities (TOC)Tier 3 status, which offers developers density bonuses, reduced parking requirements, and other incentives, further enhancing the development potential of the site. Positioned to benefit from the ongoing growth and revitalization in the area, this sizable lot and zoning allow for various Residential development projects, offering developers the chance to capitalize on the increasing demand for housing in Southeast Los Angeles. The property is also located within 500 feet of George Washington Carver Middle School, adding to its appeal for residential development. With a Walk Score of 73, the neighborhood is considered "Very Walkable," with excellent transit options, making it attractive for those seeking easy access to amenities and public transportation.
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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-11-07T00:31:17.823. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Nelson Team | American Home Realty. Licensed in the State of California, USA.