Gatsby Is Looking to Buy Lots for Development
Gatsby Investment is looking to expand our project offerings by acquiring more lots in Los Angeles!
Our investors have been thrilled with the results of our 4-6-unit multi-family developments because they provide strong returns while helping to ease the housing shortage in LA. Plus, these smaller projects can be completed more quickly than larger apartment buildings, providing faster returns for investors, and they are less intrusive, allowing traditionally single-family neighborhoods to retain their character and charm.
With the consistent demand for these valuable projects, we’re always looking for new lots that are suitable for this type of development.
Whether you’re a real estate broker or agent with your finger on the pulse, an investor with a lead on a property, or a property owner with a lot to sell, we’d love to work with you!
Here’s what we’re looking for and information on how you can submit a lot for our consideration.
Criteria for Gatsby Lots
To suit our multi-family new construction projects, we’re looking for lots zoned to accommodate a 4-6-unit multi-family development in high-demand rental areas. The lots can be vacant or contain distressed single-family homes ready to be demolished.
Specifically, each of the lots we consider must meet the following criteria:
- Lot Size: Minimum of 6,000 square feet
- Location: Must be within the LA Department of Building and Safety (LADBS) jurisdiction (properties that appear on the ZIMAS database)
- Purchase Price: Below $1,500,000 per lot
- Zoning: RD1.5, RD2, RD3, R2 and R3
- No historic preservation restrictions
- We do not purchase Ready-to-Issue (RTI) properties
- Property must be delivered vacant
- Must include a front driveway (no shared driveways)
- Must comply with SB8 regulations (owner occupied in the last 5 years)
- Flat land only (no hillside properties)
How to Submit a Lot for Consideration
If you have a lot that meets our criteria, let us know! You can submit a property in five easy steps via our online portal:
- Sign up for a free account with Gatsby.
- Verify your email address and log in to your new account.
- Complete the registration process.
- Enter the property details in the portal and click “submit.”
- Give the Gatsby team just two days to review and respond to your submission.
We look forward to working with you to bring more housing to Los Angeles and strong return potential to investors over the coming years!