Major upside opportunity - this 4-plex is located within an enterprise zone and is primed with an open lot to potentially build additional units. Zoned c-2/r-4, the property resides within a tier 2 tod designation that provides for density bonuses and currently contains three residential tenants + one unit that operates as an office/dealership; the office user will vacate, opening one unit to lease at market rate. Lack of housing and virtually no new pending supply makes this a prime development, redevelopment, or expansion opportunity. Buyers to conduct due diligence to satisfy themselves of all development potential.
The vacancy rate of homes in 90011 is
5.24% with 26.18% of homes being owner-occupied. The median household income in 90011 is $31443 per year with those between 45 and 64 having the highest median income at $36995.