$1,000,000
132 Union Pl Los Angeles, CA 90026
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$1,000,000
Est. payment /mo
8,341 Sqft Lot
UPDATED:
10/10/2024 09:16 PM
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 24-445087
Lot Size 8,341 Sqft
Acres 0.1915
Property Description
We are pleased to present a prime Development opportunity located at 132 S Union Place, Los Angeles, CA. This property, currently a vacant lot, spans 8,340 square feet, offering significant potential for residential development within the Westlake community. Zoned R3-1 and designated for Medium Residential use under the General Plan, this lot provides developers with flexibility for a range of residential projects, including multi-family housing. The property is located in a Transit Priority Area and benefits from Tier 2 TransitOriented Communities (TOC) status, providing developers with attractive incentives such as density bonuses and reduced parking requirements to optimize the development's potential. Additionally, the site is within 500 feet of several schools, including Belmont Senior High, Sal Castro Middle School, and Harris NewmarkContinuation High School, making it ideal for family-oriented residential developments. The property is also close to Unidad Park, offering recreational opportunities for future residents. This vacant lot, with no existing structures, allows developers to begin construction without the need for demolition, expediting project timelines. Positioned in the Westlake Recovery Redevelopment Project Area, this opportunity is further enhanced by the potential benefits available through the Los Angeles State Enterprise Zone, which provides tax credits and other economic incentives. The lot's central location, coupled with its zoning flexibility and TOC incentives, presents a unique opportunity for developers looking to contribute to the ongoing growth and revitalization in the Westlake area.
Location
State CA
County Los Angeles
Area Downtown L.A.
Zoning R3-1
Exterior
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Special Listing Condition Standard
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Listed by Keller Williams Beverly Hills
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