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.