I am looking at several buildable level lots for sale in the Los Angeles area, they have real streets not paper streets, they have houses most of the times on both sides... is it still a wise idea to build on a lot in L.A from scratch?
Investor · Pasadena, CA · Member since 2015 · 269 posts · 189 votes
8y
It depends on the product and where you're building @Yasser Siddiqui. We build around Silver Lake and along San Gabriel Valley. LA around the metro stops there are a lot of developments coming online, I can see multifamily in those areas getting into the oversupply territory.
Yes, and No. Also, you need to be looking at what zoning its on. I've seen situations where a land is purchased,
with building permits on hold for about 8 months at the minimum.
-Rudy Vazquez
Zoning is usually SFR some have multiple, if the lot does not have approved plans, how long does it normally take for approvals to come thru and development to begin? I had previously heard it can take upto 2 years if I dont have approved plans already
It depends on the product and where you're building @Yasser Siddiqui. We build around Silver Lake and along San Gabriel Valley. LA around the metro stops there are a lot of developments coming online, I can see multifamily in those areas getting into the oversupply territory.
Where in LA are you looking?
Im looking at the lower streets the closer to downtown the better, Im looking for multi family basically something in a nicer area to develop a building for good rental returns...
Do you have any good suggestion right around the half million mark, preferably with approved plans
Investor · Pasadena, CA · Member since 2015 · 269 posts · 189 votes
8y
Yeah, if it's in the City of LA, you're prob looking at 1.5-2 years @Yasser Siddiqui. If it's in County jurisdiction prob around the same. If I see something that matches that I can forward you, we don't really do individual SFH's anymore or put you in touch someone to help you look. DM me if you're interested.