1140 Shenandoah Street

Los Angeles, CA 90035

$1,950,000

Listed Price
N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten $645 / sqft

1933

calendar_month Built

Property Description

ATTENTION ALL DEVELOPERS, REMODELERS & MULTI-UNIT INVESTORS! Exciting opportunity in a prime location! This two-story duplex, nestled on a 6,384 sq. ft. lot zoned {Q}-LA-R3-O and under TOC Tier 2 (Transit Oriented Communities), offers immense potential. Each unit, comprising 2 beds and 1 bath, currently houses tenants with rents of $2,720/month and $1,665/month, respectively. This property also boasts an exceptional Pedestrian Friendly rating of 9.6 out of 10, highlighting its accessibility and appeal to a wide tenant base. The true value lies in its future possibilities: Plans have been submitted for final approval and will be RTI within a short period for a transformative 14,000 sq. ft., 4-story apartment building with 26 affordable housing units, promising a significant transformation and lucrative investment opportunity. This lot is ripe for various ventures, including renovation for rental upside, ground-up development of the approved 26-unit affordable housing apartment complex, condominium & small lot subdivision projects, as well as additions of ADUs. The R3 zoning offers flexibility, allowing developers to explore other variances with the city of Los Angeles as applicable. Buyer is advised to conduct thorough due diligence and verify all remodel & development possibilities. This is not just a property; it's a gateway to a multitude of lucrative opportunities in one of the most sought-after areas. Seize this rare chance to invest in a property that promises not just a return on investment, but also a significant contribution to the urban landscape of one of the most sought-after neighborhoods.

Interior Features

Bedroom Information
Bedrooms N/A
Bathroom Information
Bathrooms N/A
Flooring Information
Material Wood
Interior Information
Features Ceiling Fan(s)

Listing Information

Address 1140 Shenandoah Street
City Los Angeles
State CA
Zip 90035
County Los Angeles
Listing Agent Michael Rabbani DRE#01942087
Courtesy Of Rodeo Realty
MLS 23337525
List Price $1,950,000
Status Active
Type Residential Income
Structure Size N/A
Lot Size 6,386
Year Built 1933
DOM 8

Exterior Information

Maps

Listing information courtesy of: Michael Rabbani, Rodeo Realty . *Based on information from the Association of REALTORS/Multiple Listing as of Dec 14th, 2023 at 3:07 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.