8867 Alcott Street is a prime development site situated one block south west of the intersection of Pico Robertson. The existing structure is a three-unit apartment building that is currently vacant but in rent-ready condition. Situated on a 7,292.3-square-foot corner lot zoned R3-1-0, the property is a prime development candidate for condominiums or high-end apartments. The current structure is also of high enough quality that it could be worthwhile to move the structure to another vacant lot. Per by-right density of one residential unit per 800 square feet of land, 9 units could be constructed at the property with no incentives. With incentives, upwards of 12 units could be constructed.Our projections are for a developer to construct nine high-end condominiums or apartments averaging 1,600 square feet. The units could either be sold individually for a profit or retained as an apartment building. Buyer to independently verify the ability to develop this property.
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BRENT SPRENKLE, License# 01290116,
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