MULTIFAMILY DEVELOPMENT OPPORTUNITY

Los Angeles, CA 900449325 S Vermont Ave.

Property Type: Land
For Sale

Details

  • Price: 750,000
  • Cap Rate: N/A
  • GRM: N/A
  • Cost per SF: N/A
  • Cost per unit: N/A
  • Year Built: N/A
  • Square Footage: N/A
  • Lot Size: 7,854 SF
  • Units: N/A
  • No. Stories: N/A
  • Parking: N/A
  • Transaction Type: For Sale
  • Property Type: Land
  • Zoning: LCC3YY
  • Building Class: N/A
  • APN/Parcel ID: 6056-004-031

Property Description

Lucrum Real Estate Group of KW Commercial is proud to present an opportunity to acquire a vacant Opportunity Zone 33-unit± development site Located in the South Los Angeles submarket of Unincorporated Los Angeles.

The county of Los Angeles planning department has verified that 33 units± (9 base, 24 bonus) is the maximum number of units for this site. The potential development site is currently a vacant duplex with access off S. Vermont Ave and through the alleyway at the rear of the lot. The property is situated on a 7,854± square foot lot zone LCC3YY.

The subject property is located next to a convenience store, church, and an auto body shop, which an astute investor may be able to acquire the adjacent lots in the future.

The South Los Angeles Community Plan is an area of 15.5 square miles. Adjacent communities include West Adams, Baldwin Hills, and Leimert Park.

Land prices in the South Los Angeles remain affordable. With the advent of generous density bonuses, transit incentives and opportunities to develop affordable and mixed-use housing, values have begun to rise as developers look for greater opportunities in and around Los Angeles.

The property is situated just west of the 110 freeway and north of the 105 freeway, providing easy access to anywhere in the Los Angeles Metropolitan area.

The development presents a unique opportunity to acquire a well-positioned property located in the emerging South Los Angeles submarket of Unincorporated Los Angeles, while taking advantage of the opportunity zone incentives.

 

Property Highlights

  • 33 Max Allowable Units Per The County of Los Angeles
  • Opportunity Zone Development Site
  • Located in the Emerging South LA submarket of Unincorporated LA
  • Minutes to Shopping & Public Transportation
  • Large Open Lot with Access off S. Vermont
  • Historically Strong Rental Market
  • Potential to Acquire Adjacent Lots in The Future

Request Information

Once you schedule a call, you’ll have taken the first step to getting the representation you deserve.

23975 Park Sorrento Suite 110
Calabasas, CA 91302