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$ 2,500,000
Est. payment /mo
Active
5879 Crenshaw Boulevard Los Angeles, CA 90043
8,417 Sqft Lot
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID CL25566151
HOA Y/N No
Lot Size 8,417 Sqft
Acres 0.19
Property Sub-Type Unimproved Land
Property Description
Located at 5879 Crenshaw Blvd, Los Angeles 90043, the site sits on an approx. 8,418 SF lot zoned LAC2-2D-SP. The property is conveniently situated on the heavily trafficked, major North-South artery of Crenshaw Blvd, surrounded by neighboring essential retail and directly adjacent to Metro Line - Hyde Park Station. Listed for sale at $2,500,000, with a price per buildable unit of approximately $65,789. After completing our development analysis, we believe the development will feature 38 units with TOC tier 4 or even more units with 100% affordable. The property falls under several strategic zoning designations: LAC2- 2D-SP, Transit Oriented Communities (TOC) Tier 4, RPA Crenshaw/Slauson, a Hubzone, and the Los Angeles State Enterprise Zone. Positioned at the intersection of Crenshaw Blvd and W. 59th St, it is just one block from the K Line station at Crenshaw and Slauson. According to Governmental Code 69515, any 100% affordable housing can have unlimited density if it is located 0.5 mile within a Major Transit Stop. This property is part of the transformative developments along the Crenshaw Boulevard corridor, which have been spurred by the arrival of the K Line. It joins other affordable housing projects in the area, such as the Depot at Hyde Park and Hope on Hyde Park apartmen
Location
State CA
County Los Angeles
Zoning LAC2
Interior
Fireplace No
Exterior
View Y/N false
View None
Building
New Construction No
Others
Tax ID 4005003012
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Listed by Michael R. Fukushima • Keller Williams Los Angeles