We are pleased to present 8931 Ramsgate Ave, a VACANT duplex located on 7,063 SF of LAR3 Tier 3 TOC zoned land! With the existing duplex (both 2 bed + 1 bath) being 100% vacant, there are numerous exit strategies that include the following: 1) Build 16 units + 4… Read More ADUs utilizing the current RTI plans, 2) Renovate the existing Duplex + build new ADUs, 3) Utilize ED1 to construct 100% affordable housing project, or 4) Multiple duplex style build yield 4-6 large units. Located in the heart of Westchester, tenants will have ease of access to the 405FWY, numerous employment opportunities, Loyola Marymount University, Venice Beach, Santa Monica, El Segundo, and LAX. Ownership has plans in place for a market rate 16-unit + 4 ADU development that can be included in a sale. As a 100% affordable ED1 development, there's potential for up to 36 units with no parking requirements and an affordable stick on grade type construction. As a value-add project, a new owner can perform renovations on the existing units, both 2 bed + 1 bath units, and add additional ADUs by converting the existing rear garage. Buyer shall complete their own due diligence to determine the development potential. Read Less
Property listed by Kidder Mathews of California, Inc., Casey Lins 858-369-3010
Listing Snapshot
Days Online
174
Last Updated
Property Type
Other
Beds
4
Square Ft.
1,786
Lot Size
0.16 Acres
Year Built
1950
MLS Number
24395369
30 Days Snapshot Of 90045
$1,596k
-17%
(avg) sold price
16
-40%
homes sold
61
-15%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1950, Building area total: 1,786, Levels: One, Living area: 1786, 1 story, 1 building
Income
Gross income: $84,000, Net operating income: $54,600
Lot
0.1621 acres, 7,063 square feet, Size: 7,063
Parking
4 totals parking, Garage
Property
Zoning: LAR3
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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