Iconic Investments is pleased to offer for sale 250 W. 92nd St., consisting of 2 buildings, a single-family residence and a 3-unitretail commercial building located in the Broadway-Manchester area of Los Angeles. The 3-bed/1-bath single-family residence was built in 1925 and is not subject to rent control. The retail/commercial building was built in1914 and is located on the corner of 250 W. 92nd St. and S. Broadway with approximately 100 feet of frontage along S. Broadway. The building is subdivided into 3 units, 2 units are approximately 950 SF and 1 unit of approximately 1,648 SF. There are 10 parking spaces for a parking ratio of 2.11 spaces per 1,000 SF leased. Two of the retail units will be delivered vacant. The property is land zoned C2-1VL which allows for the construction of 20 multi-family units By-Right or up to 32 multi-family units utilizing LA City's new Transit Oriented Communities Affordable Housing Incentive Program. With the programs Tier 1 designation, the development incentive bonuses include the following: A50% Density Bonus, an increased FAR to 2.75:1, and a maximum development height of 56 feet (+11 feet) - Buyer to verify. The property has quick access to the 110 freeway for easy access throughout Los Angeles and is conveniently located SoFi Stadium, The Forum and LAX and is across the street from the Broadway/92ndStreet bus stop and a short distance to the Metro A (Blue) Line.
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