2230 S Ridgeley Drive, Los Angeles, CA 90016

Property Description

CALLING ALL DEVELOPERS, FLIPPERS, INVESTORS, CONTRACTORS, BUILDERS, END-USERS- Welcome to 2232 S Ridgeley Dr, a vacant SB8 exempt single family house in the heart of Mid City, just minutes from Culver City, Downtown Culver, West Adams, and Miracle Mile. This property has SB8 exempt paperwork and PLANS are available for either 5 or 6 Townhome Units that can be submitted soon or you can choose to do the new CHIP program building potentially up to 7 stories, SB684, remodel and add ADUS (buyer to verify). This 3 bedroom/ 2 bath home has a tons of potential and possibilities to build new units, add ADUS, remodel, do an addition, convert the detached garage into an ADU, there are a ton of options to add value. The property is located in an Opportunity Zone which has a ton of benefits(buyer to verify) and zoned LARD1.5 with a lot size of 6,444 , the options and potential are endless! This house was owner occupied, will be delivered vacant and will be SB8 exempt! The area is booming with brand new buildings and a recent sold comp of 5plex at $4,400,000 nearby making this deal very attractive! The property in the ultra trendy Mid-City area is highly desirable area due to its centrality to coffee shops, grocery stores, gyms, shops, entertainment district and many trendy restaurants. In addition, the property is located just minutes from the Arts District, Helms Bakery, Cumulus which has the famous Whole Foods, Culver City Steps and Ivy Station, which is home to Apple, Amazon Studios, Sony Pictures, HBO, Beats Electronics and many more tech and entertainment companies pouring into the neighborhood. The strong rent desirability and sold completed comps are being achieved in this neighborhood because of how central and convenient the location is for investors/renters and due to the surrounding tech hubs, providing high-paying salary jobs. Mid-City overall is a very happening and growing market, due to its centralized location making it convenient to get all neighborhoods such as Miracle Mile, The Grove, West Hollywood, Beverly Hills, Century City, Culver City, Westside/Beach cities and Downtown all being close by. The neighborhood has lots of brand new construction close by, giving a modern and nice vibrant feel to the area. Amazing opportunity for contractors, developers, investors looking for a new project and end users that would like to live in the area! THIS IS ONE OF THE BEST DEALS FOR DEVELOPING/FIXING AND INVESTING in the market! Buyer to verify all and do their own due diligence in regards to plans, ADU potential, SB8 and any other item.