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$ 2,395,000
Est. payment | /mo
3 Beds
3 Baths
1,988 SqFt
$ 2,395,000
Est. payment | /mo
3 Beds
3 Baths
1,988 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 1,988 sqft
Price per Sqft $1,204
MLS Listing ID 26874405
Bedrooms 3
HOA Y/N No
Year Built 1903
Lot Size 10,075 Sqft
Property Description
We are pleased to present 3015 Shrine Pl., a premier development opportunity located in the heart of the USC student housing market, just moments from USC Village and the University of Southern California. Positioned on an expansive 10,071 SF lot with alley access, the property offers developers a rare chance to acquire a large LAR3-zoned site with multiple redevelopment strategies in one of the most supply-constrained areas surrounding USC. The property's LAR3 zoning allows for up to 12 units by right plus ADUs, while its TOC Tier 3 designation provides the potential for up to 23 TOC units, subject to buyer verification. LAR3 development sites of this scale are extremely difficult to find within the USC student housing submarket, creating an attractive opportunity for a developer seeking to build a higher-density project capable of commanding premier student housing rents. At approximately $238 per land square foot, the property offers an attractive entry basis for a large, premium LAR3-zoned development site with TOC Tier 3 incentives in the USC student housing market. Another key advantage is the property's occupancy history. 3015 Shrine Pl. is currently vacant and has not been rented at any point during the past five years, potentially providing a path to redevelopment without replacement affordable housing requirements and allowing for a fully market-rate student housing project, subject to buyer verification. For buyers looking to pursue an alternative strategy, the existing approximately 1,988 SF structure may also provide an opportunity for renovation, expansion, and the addition of further density while retaining the existing improvements. With its substantial lot size, LAR3 zoning, TOC Tier 3 incentives, alley access, favorable vacancy history, compelling land basis, and proximity to USC, 3015 Shrine Pl. offers a unique opportunity to create a significant student housing project in one of the strongest rental pockets surrounding the University.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LAR3
Interior
Fireplace No
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5123011021
Special Listing Condition Standard
Listed by Adam Shamooelian Keller Williams Beverly Hills #02116849
Nearby Locations
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Carlos Elizalde
REALTOR® | License ID: 02090487