Great equity opportunity for an investor and/or owner occupant buyers looking to move closer to Los Angeles in the Boyle Heights area of East Los Angeles. This property, with LARD1.5 zoning, offers a 7 bedroom + office and 3 full baths. 2 bedroom-1 full bath on the first level, while the second level features 5 bedrooms/office, highlighting the opportunity for multiple dwelling utilization. The home includes two detached 1-car garages and a backyard with plenty of space to relax, entertain, build, or enjoy green garden space. Although it requires some fixer-upper attention, this property holds great potential.
Notably, the basement, framed for rooms by a prior tenant (with the seller having no knowledge of the intended use), invites buyers to explore development possibilities. Interested parties are encouraged to contact the City of Los Angeles Building & Safety and Planning Departments for feasibility assessment.
The property is advantageously located just blocks from USC University & Hospital, adding to its desirability with close proximity to Keck Medicine of USC, CSULA, DTLA, Alhambra, and the 10-Freeway. The area is experiencing an explosion of new developments, making it a high-density, centrally located market with no historic review and designated as TOC Tier 3.
On Zimas.LaCity.org, the property is listed with two addresses, 357 and 359 Cornwell, and has records of permits for the second story expansion and bedroom enlargement. Tax records show a 4/2 layout, but the property actually comprises 7 bedrooms and 3 baths. Potential buyers should conduct their due diligence and inspection.
The property may be located within the USC employee assistance program area, offering additional benefits. This Boyle Heights investment is offered solely for cash, conventional, and hard-money loan purchases. Drive by and check out this desirable, central location.
