7 units in Silver Lake on a 9,399 SF lot zoned LAR 1.5. City of LA Assessor says 7 units, but City of LA Housing says 5 units. Per Owner there are 5 legal units + 1 Non-conforming SFR in the back (it rents as a 2/2 + 0+1 and was originally permitted as a Workshop). Given that the City of LA is allowing and encouraging ADU's, there is a good chance the City will allow these two units to be made legal. Buyer to verify. Currently there are 4 studios, 1 1 bedroom and a 2 Bed/3 bath Non-Conforming house in the rear of the property (Rented as a 2/2 and 0/1). Subject to City of LA Rent Control. Seller does not have plans/permits nor are they exactly sure what can be built but has been advised by a Developer that 6 units can be built on the site, each averaging around 2,000 SF. Estimated sellout value would be around $8.4MM ($710/SF). Buyer to verify. Seller upgraded the main electrical panel in 2011 to 200 AMPs. There are 7 carport parking spaces onsite. 2 units can be delivered vacant. Contact LA for more info.
