2637 S Longwood Ave, Los Angeles, CA 90016

Description

SIGNIFICANT PRICE REDUCTION! Exceptional development opportunity in the rapidly evolving West Adams neighborhood of Los Angeles. Offered at just $799,000, this approximately 5,098 SF lot comes with Ready-to-Issue (RTI) plans for the construction of a modern four-unit residential development totaling approximately 5,315 SF. The thoughtfully designed project offers an attractive opportunity for developers and investors seeking to capitalize on the area's strong rental demand and continued revitalization. With projected annual gross rental income of approximately $222,000 upon completion, the development presents compelling long-term income potential. The property is ideally situated near Culver City, Mid-City, major employment centers, restaurants, shopping, and transportation corridors, offering convenient access to some of Los Angeles' most desirable destinations. At approximately $150 per proposed buildable square foot, the newly reduced price offers an attractive entry point for developers looking to bring a multifamily project to life in a centrally located Los Angeles neighborhood. Buyer to independently verify all plans, approvals, permit requirements, development potential, construction costs, and projected rental income.