341 N Savannah ST, Los Angeles, CA 90033
341 N Savannah ST, Los Angeles, CA 90033
341 N Savannah ST, Los Angeles, CA 90033
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Anomaly Real Estate

Anomaly Real Estate

+1(909) 476-9092
$ 650,000
Est. payment | /mo

5 Beds

4 Baths

1,941 SqFt

Save
$ 650,000
Est. payment | /mo
Save

5 Beds

4 Baths

1,941 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 1,941 sqft

Price per Sqft $334

MLS Listing ID 26988673

Bedrooms 5

Construction Status Repairs Cosmetic

HOA Y/N No

Year Built 1920

Lot Size 9,565 Sqft

Property Description

DEVELOPMENT AND VALUE ADD OPPORTUNITY ON AN APPROXIMATELY 9,564 SQUARE FOOT LOT IN BOYLE HEIGHTS. Offered at $650,000, 341 & 343 N. Savannah St. gives investors and developers an opportunity to acquire an existing income producing duplex on a substantial residential parcel recently rezoned under the Boyle Heights Community Plan Update and the City of Los Angeles Chapter 1A Zoning Code. The property is now zoned [VN1-MU3-4][RX2-15][CPIO]. Under the new zoning framework, Density District 15 generally provides a base density of one dwelling unit per 1,500 square feet of lot area, creating the potential for approximately six units on a parcel of this size, subject to applicable development standards, City requirements and buyer verification. The existing property consist of two residential units: 341 N. Savannah is a 2 bed, 2 bath unit and 343 N. Savannah is a 3 bed, 2 bath unit over two separate garages. The property also includes two garages, a gated driveway and substantial on site area providing several possibilities for a buyer evaluating the site's long term use. The new Boyle Heights zoning framework includes development standards intended to facilitate residential infill, including reduced side and rear setbacks in applicable residential form districts. The property's size and existing configuration may provide an opportunity to evaluate additional residential development while retaining some or all of the existing improvements or other redevelopment strategies permitted under current regulations. Buyer to investigate and verify. The property is located within the Boyle Heights Community Plan Implementation Overlay (CPIO), which contains additional development regulations and potential incentive programs. Buyers should independently investigate the property's applicable CPIO provisions and any available density, affordable-housing or other development incentives. Both units are occupied by long term tenants and the property is being sold with the existing tenants in place. The property is subject to the Los Angeles Rent Stabilization Ordinance (LA RSO). The units are habitable with no known violations and provide additional long term value add potential through renovation if and when a unit becomes vacant. Owner currently pays water and sewer and tenants pay their own electricity and gas. 341 & 343 N. Savannah St. offers a combination of existing rental income, a large approximately 9,564 square foot lot, new Chapter 1A zoning and potential for additional residential development in Boyle Heights. Property sold with tenants in place. Drive-by only. Please DO NOT disturb occupants. Buyer to independently investigate and verify zoning, density, allowable floor area, building height, setbacks, CPIO requirements and incentives, ADU potential, tenant protections, development feasibility and all other property information.

Location

State CA

County Los Angeles

Area Boyh - Boyle Heights

Zoning LAR2

Interior

Heating Forced Air

Cooling None

Fireplace No

Exterior

Parking Features Concrete, Private

Garage Spaces 4.0

Garage Description 4.0

Total Parking Spaces 8

Building

Story 2

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction No

Construction Status Repairs Cosmetic

Others

Senior Community No

Tax ID 5180018021

Security Features Carbon Monoxide Detector(s),Smoke Detector(s)

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Josh Hodeda eLAvate,Inc. #02091542

Nearby Locations

Anomaly Real Estate

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(909) 476-9092

info@anomalyre.co

8599 Haven Ave STE 306, Rancho Cucamonga, California 91730, USA

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341 N Savannah ST