CA Land, 7 contiguous Home Site Lots In Los Angeles Start Price USD 1,495,000.00 Current Price USD 1,495,000.00 Time Left - Bid Count 0 Buy It Now Price - Reserve Price - Start Time Monday, June 09, 2008 End Time Wednesday, July 09, 2008 Location Burbank, California See more about 'CA Land, 7 contiguous Home Site Lots In Los Angeles' Description GREAT INVESTMENT, (Build now or keep for the future..) 5 Minutes from Down-town LA. Just Next to the "Dodgers Stadium". Starting Price: $ 1,495,000.00. This auction is for 7 land parcels, which are already zoned for residential homes and legally subdivided lots – 5 of which are currently tied together and are in the process of being untied. These unique land parcels are build-able and located amid an already established community in an good part of town, located on Landa Street, in Echo Park – Los Angeles CA 90031. Homes in this area are in high demand and maintained their value in this market (New Homes in the area are between $800,000 - $1,100,000.) Each of the parcels is already zoned for single family residential (grandfathered in).  The owner's research with the City shows that it is possible to build on these lots and do not foresee any major barriers in getting the necessary permits.  (Buyer to do own investigation as well) Soil Tests: A recent soil inspection of these 7 lots which included excavation and drilling of pit holes, revealed hard bedrock close to the surface and the lots to be in good condition and build-able.  The soil report is available upon request. Topographic survey: Topographic survey has been completed and will be provided upon request. APN/Lot size -  5443-022-004        9,104 sq ft. (Lot 71) 5443-022-005        7,405 sq ft (Lot 72 5443-022-009        29,229 sq ft (5 Lots: 74, 75, 76, 77 & 78)  Total Land:           45,738 sq ft (Lot # 73 is not part of the group.  We have talked with the owner of this lot and he is willing to participate in the developoment of the project)    Next door to- 1167 Landa St Los Angeles CA 90031. Utilities - All utilities are already available near the parcels. The land is on a hillside (up-slope) with good access from the street and with a great undistracted view of the area. Street access - Paved street, that may need to be improved.  (Check with the city) This lot is just next to already-existing homes. Zoning - LACR-1. (Single-family zoning for each lot) Title - Policy of title insurance will be provided upon the close of escrow. Title company - Fidelity Title.  Escrow - To be "Escrow Inc" in Burbank CA.  (After working with Marsha one time, you will wont to do all of your transection with her - she is good. )  Escrow deposit: to be made in to escrow with in 5 working days in the amount of not less then 10% of the final bid.  (Example: if the final bid is $1,500,000.00then the escrow deposit has to be transferred to escrow in the amount of $150,000.00 with-in 5 days of the closing of the auction. Balance - will be before the close of escrow. Escrow to be closed - with in Maximum of 30 days from the closing of this auction. Escrow and title fees - will be divided between the seller and buyer - 50%/50%. Financing - Buyer will have to secure own financing for this purchase.   JOINT VENTURE OPORTUNITY: Seller is an experienced developer and will be willing to do JV/partnership or do the development and construction with or for a qualify buyer.  Please email me with questions you may have. Or call me at 818-568-8882 AMI Place a Bid!

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