431 W Cedar Street, Los Angeles, Los Angeles, CA, Land, , 0

$ 349,000
431 W Cedar Street,

Overview

  • Updated On:
  • November 16, 2023

Property Description

Seller has become much more motivated and, while not willing to reduce price, is very willing to entertain seller carryback at very good terms to the buyer, or any other creative financing ideas a buyer might have or think of. NOTE – THIS IS A VACANT LOT WITH APPROVED PLANS TO BUILD THE HOME SHOWN IN THESE RENDERINGS (photos.) Here is a rare opportunity to build and own your brand new home in the lush hills of Mt Washington. This plot of land is ‘ground-break’ ready, right now. You can immediately begin to build the home you see here in the renderings. According to our best estimates you can get a competent contractor to do this for approximately $500,000. It could even be considerably less expensive than that due to the fact that, according to Soils Report, bedrock is a mere one foot below the surface. This eliminates the need for the use of caissons, which represents a huge savings in construction. Between the price of acquiring the land and then building it, you would be ‘all in’ at roughly $900,000, and possibly a lot less. A comparable marketing analysis is showing that the market value of the property is right around $1.2 million (once the home is completed)! As you can see from the renderings it will be an exquisite home, with a lovely, inviting outdoor space on the front and rear of the property and two car covered parking. It sits in between two homes, one of which was recently renovated, and the one on the other side is being renovated as we speak. The street itself is a safe, quiet, and pretty cul-de-sac which ensures a serene and pleasant environment. Right next to the property on the west side is a narrow strip of city owned land which it is highly unlikely to be feasible for anyone to ever build on, offering a great buffer of seclusion and privacy. Lastly you will enjoy from almost any part of the property a great downtown view and also great canyon views. Since the land is ‘permit ready to issue’ getting financing on all this should be very easy to do. For a builder the site is very accessible and offers a convenient staging area right next to the property for equipment, etc. The lot itself is a relatively simple build as you will see in the plans. You are welcome to visit it and walk on anytime you like.*Listing is for the land only. **First 10 images are artist renderings of the proposed Single Family Residence

Address: 431 W Cedar Street
State/County:
Zip: 90065
Country: United States
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$ 1,789.39
per month
  • Principal and Interest
  • Property Tax
  • HOA fee
$ 1,353.14
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David Clark