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$ 1,399,000
Est. payment /mo
Price Dropped by $351K
4614 S Western AVE Los Angeles, CA 90062
4 Beds
8 Baths
7,824 SqFt
UPDATED:
01/17/2025 01:01 AM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 7,824 sqft
Price per Sqft $178
MLS Listing ID 24460385
Bedrooms 4
Construction Status Fixer
HOA Y/N No
Year Built 1962
Lot Size 5,723 Sqft
Property Description
***Priced to Sell*** Value Added Opportunity for a fully vacant Residential/Commercial property consisting of 7,824 SF of building and 5,663.SF of land. South LA Property has a ton of upside and Live/Work potential. Great opportunity to bring four residential units on the market to provide much needed housing to the Los Angeles community. A possible conversion of commercial units to residential units would provide even more help to the existing housing crisis. Alternatively, keep the existing layout and provide a live/work or residential care facility for transitional housing. Mixed use property works for a variety of buyers including transitional and bridge housing providers, owner/user for SBA financing, non-profit companies providing services for the unhoused and at risk, job training programs, homeless shelters, and more.Features:Mid Century Modern Mixed-Use 2 Story Building, Central hallways with front and rear interior staircases. 1st Floor has 7 commercial units (retail and office)2nd Floor has 4 one-bedroom and one-bathroom residential apartment units. Some second floor units have partial views.Gated parking lot in rear with alley access. Property also features an atrium, front and rear staircases, and a storage room.Location:On Western Avenue Between 46th and 47th Street , South of Vernon Ave and North of Slauson Ave. in South Los Angeles. Located in an Opportunity Zone, Los Angeles State Enterprise Zone , Redevelopment Project Area - Western/Slauson, and Urban Agriculture Incentive Zone. Various incentives and highly desirable loan programs for owner-users are available. Property neighbors several large new developments. Neighborhood has lots of upside and growth potential. Across the Street from Barack Obama Global Preparation Academy & Westbrook Middle School. Located in Transit Oriented Community Tier 3 (TOC 3) with bus stops located at Western/Vernon and Western/48th Ave. The centrally located property is eligible for Reduced Parking Requirements, AB 2334 Density Bonus, and probably AB 2011 Streamlined Approval. Showing by appointment. Call Jon Varsano or Jerry Wiener.
Location
State CA
County Los Angeles
Area C34 - Los Angeles Southwest
Zoning LAC2
Interior
Heating Natural Gas
Cooling None
Fireplace No
Exterior
Parking Features Gated, Uncovered
Community Features Gated
Total Parking Spaces 5
Building
Faces West
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Construction Status Fixer
Others
Senior Community No
Tax ID 5016014004
Security Features Gated Community,Smoke Detector(s)
Special Listing Condition Standard
Listed by Jonathan Varsano • Jonathan Varsano