3009 Wabash Ave Local commercial 358 m² 100 % Loué À vendre Los Angeles, CA 90063 973 808 € (2 722,59 €/m²)

3009 Wabash Avenue is opportunity to purchase a multi-tenant street retail/commercial single-story building that consist of 3,850+/- square feet located on a lot size of 9,338+/- square feet of semi-improved land zoned “C2” Commercial Zone, with 70 linear feet along Wabash Ave. C2 zoning provides a wide range of uses, for example any use permitted in the C1.5, C1 and CR, Carpenter, plumbing or sheet metal shop, Catering shop, Interior decorating or upholstering shop and Restaurant. The property has an easement or right of way over the neighboring property, making parking in the rear accessible. Retail Repositioning Opportunity: With the potential to construct up to 25 residential units, there is a significant opportunity for retail repositioning.. According to the Los Angeles City Planning guidelines, projects considering an affordable housing component can benefit from several incentives allowing for an increase in density without requiring a zone change or a variance. These incentives include the TOC program or the State Density Bonus Program. Under the TOC program, 100% Affordable Housing Projects can potentially elevate their Tier designation. For instance, instead of its current Tier 1 designation, this property might qualify for Tier 2. According to TOC Guidelines, the Tier 2 increase in density could reach up to 40%. Don't let this exceptional investment opportunity slip away. Contact us today to explore the potential of this prime commercial property.