Price: $1,850,000

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Development & value-add opportunity.

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3253-3263 E. Cesar E. Chavez Avenue is a unique investment opportunity with a vast amount of diverse value-add components.  The subject property is two adjacent parcels totaling ±13,114 SF in the highly gentrifying submarket of Boyle Heights, on the main thoroughfare of E. Cesar Chavez Avenue. 

 

3253 E. Cesar E. Chavez Avenue comprises of four (4) free standing residential units with a commercial storefront, totaling approximately 6,919 SF of building. With rents way below market, an investor can add value by increasing rents up to 50% to reach market rate. In addition, the subject property is zoned C2-1 and is part of TOC Tier 3, allowing a density bonus of up to 70%, allowing a developer the opportunity to build up to Sixty-Two (62) units, with Seven (7) being designated to extremely low income and an FAR increase to 3.75:1, totaling 49,178 SF of buildable. With alley access in the rear, this benefits the developer in many aspects of development and ingress/egress. 3253 E Cesar E Chavez Avenue is currently generating roughly $104,304 gross annually, allowing a developer to collect passive income while working on entitling the project.

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Note: Buyer to perform own due diligence and verify all information.