2846 Eva Terrace

Description

Amazing residential development opportunity in the Lincoln Heights community of Los Angeles with a panoramic view and easy access to downtown Los Angeles, Dodger Stadium, USC, Los Angeles County Hospital, and many shops and restaurants! The sale includes two lots with APNs 5209004027 and 5209004018. The main lot with street frontage is 13,677 square feet, and the second lot is 6,913. Water and power are already onsite, and a sewer mainline is available about 170 feet away along Flora Avenue. A topographic survey and slope analysis have already been completed and are available upon request. Preliminary review shows potential for two single-family homes and an additional dwelling unit (ADU). The larger lot could support a 2,800-SF, 4-bed, 3-bath, single-family home with a 2-car garage and an 858-SF, 2-bed, 2-bath ADU. The smaller lot could support a 2,300-SF, 3-bed, 2-bath, single-family home and 2-car garage. The seller has completed preliminary engineering to create the renderings in the photos, which provide a good sense of what could be done based on normal development standards, but these drawings and the final development potential have not been confirmed by City of Los Angeles. The buyer must perform their own due diligence to confirm the development potential. Sales of nearby, newly-constructed homes suggest a resale value of $1.25M to $1.5M for the larger lot/home with an ADU and a resale value of $1.05M to $1.2M for the smaller lot/home.