Description
We are pleased to present 1470 W Adams Blvd, a unique value-add/development opportunity in a prime location for USC student housing, 0.6 Miles from the USC campus.
The property currently consists of a 4,313 square foot 12-bedroom house on a 12,765 square foot lot with LAC2, Tier 3 TOC zoning. The property is zoned by-right for 31 units before the application of any development bonuses.
Due to the historic preservation restrictions applicable to the existing house, the suggested business plan is renovate the existing 12-bedroom house and subdivide it into 4 units while taking advantage of the approximately 4,500 square foot area (75' x 60') in the rear yard to build additional units by utilizing a combination of existing by-right development rights and ADU's.
15-20 Units is most likely the developable potential give the constraints of the site.
The property is in the path of progress, directly adjacent to two new large-scale multifamily developments and walking distance from a Ralphs grocery anchored retail center.
In addition to its proximity to USC, the property benefits from being walking distance to a Metro Expo Line station and Exposition Park, home of the world-famous LA Coliseum, the new LAFC BMO Stadium and the new George Lucas Museum of Narrative Art. The property is also a short 10-minute commute from Downtown Los Angeles and offers convenient access to the 10 Freeway.
Location
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Listing Agent: Daniel Lewin Courtesy of: Younglewin Advisors, Inc. The real estate listing information is provided by California Regional MLS, Inc. and/or CARETS® for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing or leasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (IDX) program of the California Regional MLS, Inc. and/or CARETS®. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns the web site. Information is deemed reliable but not guaranteed, and consumer is responsible for verifying the accuracy of all information. Copyright © California Regional MLS, Inc. and/or CARETS®. All Rights Reserved. Updated: 21st March, 2023 11:10 AM (UTC)
