$825,000
Developers and investors-- great opportunity to build near USC and Exposition Park! 715 E 41st Pl is an SB-8 exempt, non-rent controlled 7,320 SF flat lot delivered with RTI plans for a fourplex, allowing construction to begin immediately without entitlement delays. The approved plans include one 6BR/6BA single-family residence with a first-floor flex room and private entrance, one 3BR/3BA ADU, and two 4BR/4BA townhomes with additional flex space and private entrances that offer potential for future ADU conversion. The project has been engineered to reduce construction costs by eliminating expensive structural elements such as steel beams and complex cantilevers. The previous structure has already been demolished, saving appx $50K and eliminating rent control concerns. Plans include 9 permitted parking spaces plus 1 bonus space (10 total), spacious bedrooms designed for student housing or master lease strategies, and private outdoor spaces for each unit and flex room. In addition to the approved fourplex plans, the seller has also explored higher-density options utilizing SB 1211, which could allow up to 6 units with a triplex and three detached ADUs. One concept maximizes living area with appx 9,000 SF, 18 bedrooms, and 15 bathrooms, while another prioritizes parking with appx 7,500 SF, 15 bedrooms, 15 bathrooms, and up to 6 parking spaces. There is also potential for a 7-unit configuration by converting garage space in the triplex design. SB-8 exempt 7,000+ SF development lots with RTI plans in this area are increasingly rare, making this a strong opportunity for developers seeking a streamlined project in a high-demand rental market.
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Listed by Shawn S. Kormondy with Keller Williams Beverly Hills (310) 432-6400
Property Type
Land
Status
Active
MLS Number
26664257
Year Built
N/A
Lot Size
7,318 sq ft