Asking Price: $450,000

Eligible for new CHIP ordinance that can allow additional 50% density increase and significant parking reductions (See Docs). Bring your investors and developers to this 5,277 SF lot, zoned as C2-1VL-CPIO, it is TOC Tier 3, it is in a housing element site and State Enterprise Zone. C2 may allow you to build up to 3.75 times the lot area and 45' tall and up to 22 units with TOC3. If opted 100% affordable housing, you may be exempt from parking and possibly be able to apply under the new ED1 ordinance from Mayor Bass. TOC3 may allow you to add an additional 2 stories. All information provided deemed reliable but not guaranteed. Buyer and buyers agent to check with the city and county for zoning, specific restrictions and permitting regulations. This property is located just one block from the Avalon Metro station and in close proximity to the Magic Johnson Park and Recreation Center. Property being sold for land value. There is a 2 bed 1 bath single family home on the property and a detached garage.