The Davis Saadian Group is excited to present a rare opportunity to acquire a prime 6,632 SF lot in the prestigious Hancock Park neighborhood. Zoned LAR3 with a Tier 3 TOC (70% density bonus), this site allows for the development of 8 units by-right or up to 13 units with the use of TOC incentives. Currently, the lot is home to a 6-bedroom, 4-bathroom single-family residence, which can be delivered either vacant or tenant-occupied. The property is currently rented by the bedroom to young professionals, generating a gross income of approximately $8,000 per month. The entire home has been extensively updated, featuring a fully rewired electrical system with a new 200-amp panel, brand-new plumbing, new roof, dual-pane windows, waterproof hardwood flooring, and beautifully remodeled bedrooms & bathrooms. Financials are based on pro-forma market rents of $10,000/month. PLEASE NOTE THE FOLLOWING: 1) DO NOT DISTURB THE TENANTS. 2) Submit Offer on a CAR Residential-Income Purchase Agreement. 3) Interior Inspection/Books & Records Granted with an Accepted Offer. 4) Submit Proof of Funds & Pre-Qualification Letter with Offer. 5) Seller Selects all Services. Disclaimer: All information has been secured from sources we believe to be reliable. However, we make no representation or warranties, expressed or implied, as to the accuracy of the information provided, including square footage, lot size, permitted or un-permitted spaces, and/or bedroom/bathroom count. Buyer is advised to independently verify the accuracy of this information through personal inspections and/or with appropriate professionals. Buyer bears all risk for any inaccuracies.