Development Opportunity – El Sereno

5501-5505 Alhambra
Triangle 1 Created with Sketch. Great Deal Alert Triangle 1 Created with Sketch. $975,000 - Investment Property

I know this is not in the “wheelhouse” of most of you, but for those of you who it is (and for the rest of you, perhaps you know someone who might be a fit for this) here is a great opportunity for a small- to mid-size development project which will be very profitable. It goes like this:

It is in El Sereno, which is an up-and-coming, “spill-over” location for Echo Park and Northeast L.A. It is about 8,000 sq ft of land, zoned C2 (i.e., one can build 19 units there) and, according to my reckoning, one can clear about $1,000,000 profit over a two-year period. It should be a fairly easy build as the land is flat and very accessible. Price of the land is $975K and it is not on the market.

Contact me if you are interested or want to know more, or if you know someone I should be in touch with about it.

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