Historic four unit property. Currently under the Mills Act. Large two-story front duplex and two separate detached houses in back. Alley access for parking. No sign on property. Do Not Disturb Occupants. Main two-story 4 bedroom unit is a USC Student rental. Seller to retain gas/mineral rights to property. Additional monthly income from laundry - washer/dryer. Mills Act compliance requires work to be done on all three structures. Front Duplex is rented to USC students. 4 bedroom ($3,100 month) and 1 bedroom ($1,508 month) are rented to USC students.
Currently existing on the lot is a auto repair shop that pays $2,500 per month and a garden supply shop that pays $3,250. Both tenants are on month to month agreements. Both Phase 1 and 2 have been completed. The total size of the lot is approximately 17,965 SF and its Zoning is LAC2. There currently is plans for a 201 unit fully entitled low income housing project, but the large corner lot provides a variety of different development opportunities.
* This property is part of the USC Adjacent Development Land Portfolio - May be purchased together or separately. 3014, 3018 and 3024 Royal are three contiguous lots that must be sold together. * Rare USC neighborhood development opportunity three contiguous parcels totaling approximately 21,695 SF zoned LAR3 with TOC Tier 3 incentives. Combined site offers by-right potential for up to 27units, with possible density up to 45 units using TOC bonuses (Buyer to verify). Existing 3,586 SF duplex on 3014 Royal St. (buyer to investigate historical status). 3018 and 3024 Royal St. are vacant land currently used as parking. Prime location steps from USC Main Campus and USC Village, perfect for stu
* This property is part of the USC Adjacent Development Land Portfolio - May be purchased together or separately. 3014, 3018 and 3024 Royal are three contiguous lots that must be sold together. * Rare USC neighborhood development opportunity three contiguous parcels totaling approximately 21,695 SF zoned LAR3 with TOC Tier 3 incentives. Combined site offers by-right potential for up to 27units, with possible density up to 45 units using TOC bonuses (Buyer to verify). Existing 3,586 SF duplex on 3014 Royal St. (buyer to investigate historical status). 3018 and 3024 Royal St. are vacant land currently used as parking. Prime location steps from USC Main Campus and USC Village, perfect for stu