4011 Exposition Boulevard

Description

RARE OVERSIZED DOUBLE-LOT DEVELOPMENT OPPORTUNITY! Property being sold with neighboring property (4007 W. Exposition Blvd., APN 5046-005-0329) for a total of $2.4M // On the border of red-hot West Adams, these two adjacent lots totaling over 10,870 square feet offer a unique opportunity with MASSIVE upside. Primed for development, these lots are zoned LAR3 and are designated Tier-3 under the Transit Oriented Communities (TOC) Incentive Program. They are located within a State Enterprise Zone and a Qualified Opportunity Zone, and qualify for new Assembly Bill 2097 (signed into law last month) making it illegal for the city to require parking based on proximity to major transit stops. Both properties are owner-occupied, so there are no existing rent-stabilized units that would need to be replaced upon redevelopment. This is an incredible opportunity in an incredible location, and it is rare to find adjacent lots available for larger development footprints. // A short six-minute walk from the Expo/Crenshaw Line Station for trains to Santa Monica, Culver City or downtown LA, and the new train line (opening October 2022) to Inglewood, SoFi Stadium, and LAX. Centrally located, with easy access to the 10 FWY, and situated between downtown LA, Santa Monica, Hollywood, Inglewood, LAX, Playa Vista, and Culver City, West Adams is exploding with new developments. With the opening of the Crenshaw rail line, a new urban crossroads has been created, central to everywhere on the West Side of LA. This property is walking distance to Party Beer, Highly Likely, Mels, and HomeState in one of the hippest neighborhoods in the city. This pleasant neighborhood has a cool summer micro-climate with sea breezes that flow between Cheviot Hills and Baldwin Hills. Current use for 4011 Exposition is an owner occupied 1,400 sf, 3 bedroom, 2 bathroom single family cottage-style home with original charm. 4007 Exposition is a 2 bedroom, 1 bathroom, 952sf home. Both homes are owner-occupied; there are no existing rent-stabilized units that would need to be replaced and both homes will be delivered vacant. Results of borings down to the sub-soil available upon request. Combined lot dimensions approximately 84 x 130. All information deemed reliable but not guaranteed. Buyer to verify all information and zoning.