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659 S Soto Street

Los Angeles (City), CA 90023
  • $1,095,000
  • STATUS: Active
  • ON SITE: 152 Days
  • ID#: 24342585
UPDATED: 157 min ago
$1,095,000
  • 0
    BEDS
  • 0.1
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Vacant Land / Lots
County:

School Ratings & Info

School District:
Listing Agent(s): George Abraham of eXp Realty of California Inc (888-584-9427)


Description

RTI approved permits for a "Shovel-Ready", non-rent controlled (no low-income requirement / no SB 8), 4-unit multifamily development that will overlook the downtown Los Angeles skyline and is within close walking proximity to the new 6th Street Bridge and P.A.R.C. under construction. Adding greater value, on December 12, 2023, the LA City Council voted to adopt the Boyle Heights Community Plan with rezoning amendments that will allow up to 11 residential units / 6,601.8 buildable sq. ft. at market rates or up to 20 residential units / 13,203.6 buildable sq. ft. with max bonus. In addition, the new zoning allows for the option of mixed-use development with no restriction on building height and the number of residential units will still remain up to 11 market rate units or up to 20 units with max bonus!

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-16T23:26:16.31. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Lori Thompson | Coldwell Banker Realty. Licensed in the State of California, USA.
www.housesforsalesocal.com/homes/146674944
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659 S Soto Street Los Angeles (City), CA 90023

  • Price: $1,095,000
  • Status: Active
  • On Site: 152 Days
  • Updated: 157 min ago
  • ID#: 24342585
0
Beds
0
Baths
0
½ Baths
0.1
Acres
Neighborhood:
Hollenbeck Park Heights Tract
County:
Los Angeles
Area:
BOYH - Boyle Heights
School District:
Los Angeles Unified
Property Description
RTI approved permits for a "Shovel-Ready", non-rent controlled (no low-income requirement / no SB 8), 4-unit multifamily development that will overlook the downtown Los Angeles skyline and is within close walking proximity to the new 6th Street Bridge and P.A.R.C. under construction. Adding greater value, on December 12, 2023, the LA City Council voted to adopt the Boyle Heights Community Plan with rezoning amendments that will allow up to 11 residential units / 6,601.8 buildable sq. ft. at market rates or up to 20 residential units / 13,203.6 buildable sq. ft. with max bonus. In addition, the new zoning allows for the option of mixed-use development with no restriction on building height and the number of residential units will still remain up to 11 market rate units or up to 20 units with max bonus!
Exterior Features

Lot Features Rectangular LotFlat Parking Total 0 Topography Level View City LightsMountain(s) View YN Yes

Property Features

Association YN No Disclosures Methane Gas Exclusions RTI plans have been approved but not "pulled". Current RTI plans are estimated to be approximately $31412 (linkage fee exemption applied per city on July 72023). Buyer to verify. Inclusions New sewer line (6" diameter) was installed from property to the sewer in 2022. Listing Agreement Seller Reserved Listing Service Full Service New Construction YN No Senior Community YN No Sewer OtherSewer Tap Paid Special Listing Conditions Standard Water Source Public Zoning LAC1



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-16T23:26:16.31. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Lori Thompson | Coldwell Banker Realty. Licensed in the State of California, USA.
 
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Lori Thompson | Coldwell Banker Realty
19440 Goldenwest Street
Huntington Beach CA, 92648
Listing Agent(s): George Abraham of eXp Realty of California Inc (888-584-9427)