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Listed by Casey Lins of Kidder Mathews of California,Inc.

Listing Sold by Kidder Mathews of California, Inc.
$530,000 Price Reduction! 100% Vacant! Priced at $164/sf on the land, $358/sf on the building! Renovate the existing ~34 units or build 140+ units! We are pleased to present an Opportunity Zone project consisting of three (3) adjacent parcels, totaling 23,756sf of Commercial land, with existing improvements consisting of ~34 units with 10,885sf of building. Currently 100% vacant, the property had been previously zoned for a board and care home. As a development site, by utilizing 100% affordable housing incentives, there is potential for a 140+ unit multi-family development to be allowed on the property. As a value-add play, an investor may have the ability to convert the existing ~34 units into apartments or continue the use as a board and care facility. As an apartment building, there may be potential to add numerous ADU's in the existing garages or large common kitchen area. With its close proximity to West Adams and Culver City, the property is well positioned for any type of investor to take advantage of continued appreciation for years to come. Buyer shall complete their own due diligence to determine what the current legal use allowed is for the property.

Property Details of 5110 W Washington Boulevard

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Based on information submitted to CRMLS as of July 23, 2024 9:51 AM EDT . All data is deemed reliable but is not guaranteed accurate by the MLS. All information should be independently reviewed and verified for accuracy. IDX information is provided exclusively for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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