UPDATED:
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID AR25161374
HOA Y/N No
Lot Size 1.822 Acres
Lot Dimensions Assessor
Property Description
The 5 residential lots totaling 1.82ACRE are located right behind the 2 triplexes (located at 2408-2410 N Eastern Ave). It offers a rare and prime opportunity for developers to acquire an infill large development site in a mature area. It has a total of 1.82ACRE (79353 SF) lot size with RD5-1D zoning; gently sloping lot. There is an access street from a quiet and cul-de-sac street (THELMA AVE – use 2357 or 2358 Thelma Ave in Google map).
Seller has initial architect drawing to build a 15 units master plan Single Family Residential – drawings will be included in the sale. The Sales comparable for older homes in the immediate El Sereno area with small lots (older houses with less than 6000SF lot size) in the past 12 months shows a range of sales price between $800,000 to $1,500,000. The 5 lots are priced to sell at only $12/SF lot. Upon completion of the project, each finished SFR could be worth $1.5million (buyer to verify).
Properties are strategically and centrally located on Eastern Ave, several blocks north of Valley Blvd in Alhambra, and several blocks south of Huntington Drive. It enjoys a quiet atmosphere yet close to Alhambra, El Sereno Park and Recreation Center, Ascot Hills Park, and just minutes away from Cal State University Los Angeles. Commuting to Downtown Los Angeles is a breeze with easy access to FWY 10.
El Sereno, nestled in Northeast Los Angeles, is a vibrant, historic neighborhood known for its rich cultural diversity and strong sense of community. One of the oldest areas in the city, dating back to 1769, it was once home to the Tongva village of Otsungna and later became a hub for Mexican-American and Italian-American families after restrictive covenants were lifted in 1948. The neighborhood offers a dense suburban feel with a mix of modest single-family homes and small apartment buildings, many built between 1940 and 1969, set against scenic hillsides with stunning views of the San Gabriel Mountains and Downtown LA.
Location
State CA
County Los Angeles
Area 621 - El Sereno
Zoning LARD5
Interior
Fireplace No
Exterior
Fence None
Community Features Suburban, Valley, Park
Utilities Available Cable Available, Electricity Available, Natural Gas Available, Phone Available, Sewer Available, Water Available
View Y/N Yes
View City Lights
Building
Lot Description Gentle Sloping, Irregular Lot, Lot Over 40000 Sqft, Near Park, Near Public Transit, Value In Land
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 5216007010
Acceptable Financing Cash, Cash to New Loan, Owner May Carry
Listing Terms Cash, Cash to New Loan, Owner May Carry
Special Listing Condition Standard
Virtual Tour https://growthinvestmentgroup.com/listingdetail.aspx?pid=10494
