16018 Grevillea Avenue, Lawndale , CA  90260 for $415,000 


 

Title of the document

 

Pending

16018 Grevillea AvenueLawndale, California CA90260-2540

Listing IDPW20112617

0.111 Acres

$415,000

16018 Grevillea Avenue is an extremely rare triplex development opportunity in Lawndale, California. The development is fully planned and permitted, and foundations have been poured.* This offering presents an excellent opportunity for an investor to complete the development project and reap the benefits of a brand new triplex in the inland South Bay; as planned, the value of the finished triplex is estimated to be $1.12 Million. 16018 Grevillea Avenue consists of a 4,828-square foot corner lot zoned LNR2YY. Current development plans call for the construction of three single-story single-family homes with vaulted ceilings and tankless water heaters. Plans for Unit 1 detail a 763-square foot, two-bedroom/one-bath home with a covered porch, a front yard, and a detached single-car garage. Plans for Unit 2 depict a 446-square foot one-bedroom/one-bath home, and Unit 3 would be a 555-square foot two-bedroom/one-bath home. Units 2 and 3 would share a driveway. The property is located conveniently near the Hawthorne Boulevard on and off-ramps to the 405 Freeway, as well as Manhattan Beach Boulevard, giving tenants easy access to nearby beach cities. Just two development projects with three or more units have been completed in Lawndale since 2000, the most recent being a triplex built in 2008, making this a truly rare investment opportunity in a desirable South Bay market.
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