2961 W 8th ST, Los Angeles, CA 90005
$1,250,000
Est. payment /mo
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6 Beds
2 Baths
3,001 SqFt
Open 6/14 1PM-4PM

2961 W 8th ST Los Angeles, CA 90005

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Herb Rim

Herb Rim

+1(818) 699-9179

Open House

Sun Jun 14, 1:00pm - 4:00pm

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Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

Square Footage 3,001 sqft

Price per Sqft $416

MLS Listing ID 26845909

Bedrooms 6

Full Baths 2

HOA Y/N No

Year Built 1914

Lot Size 5,989 Sqft

Property Sub-Type Single Family Residence

Property Description

Exceptional opportunity in the heart of Koreatown! Located within a designated Opportunity Zone and benefiting from R4-2 zoning with TOC Tier 3 incentives, 2961 W 8th Street offers investors and developers significant upside in one of Los Angeles' most active rental and redevelopment markets. The property features an approximately 3,000 SF, 6-bedroom, 2-bathroom residence situated on a 5,990 SF lot. The existing home offers significant square footage and multiple possibilities for renovation, repositioning, multi-generational living, rental income, or interim cash flow while planning future development. A major highlight of the offering is the inclusion of RTI (Ready-to-Issue) plans for a 100% affordable 44-unit apartment development consisting of 43 one-bedroom units and 1 studio unit. Offered at approximately $28,500 per approved unit, the property presents a rare opportunity for developers to immediately move forward with a fully approved project in one of Los Angeles' strongest rental markets. Alternatively, buyers may capitalize on the existing residence through renovation, rental income, ADU expansion potential (buyer to verify), or other value-add redevelopment strategies. Ideally located on the highly visible 8th Street corridor between Vermont Avenue and Westmoreland Avenue, the property is just blocks from Wilshire/Vermont Metro Station, Zion Market, and countless dining, retail, and entertainment options. With a Walk Score of 96 and convenient access to Downtown LA, USC, and major employment centers, the location is second to none. Delivered VACANT at the close of escrow and sold AS-IS. Buyer to verify all zoning, development potential, RTI approvals, ADU potential, and property information.

Location

State CA

County Los Angeles

Area C17 - Mid-Wilshire

Zoning LAR4

Interior

Fireplaces Type None

Furnishings Unfurnished

Fireplace No

Laundry Inside

Exterior

Parking Features Driveway

Pool None

View Y/N No

View None

Private Pool No

Building

Entry Level Two

Architectural Style Craftsman

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5077018002

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Daniel Shamooelian Keller Williams Beverly Hills #01984269

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2961 W 8th ST

NEARBY SCHOOL & BUSINESS

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Herb Rim

Herb Rim

Realtor | License ID: 01870707

+1(818) 699-9179

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