Description
Maher Commercial Realty is pleased to present this unique opportunity to purchase an +/- 9,454 square foot parcel zoned C2-2D-CPIO which is currently under utilized with a 1,365 square foot fast food structure on the property. The building is located at the signalized corner of S. Central Avenue and E. 108th Street in South Central Los Angeles.
Using the TOC menu, a developer can build a +/- 39-unit development site. As a 100% affordable project, a buyer can build at least 65 units, or more if they chose to utilize the full height restriction of 108 feet.
This is a very good value at only $15,500 per buildable door as a100% affordable site and $25,000 per door as a TOC mostly market-rate site.
This is a prime corner lot located across the street from the LA County Social Services building and the Maxine Waters Employment Preparation Center, offering future tenants immediate access to social services.
This property is also a nicely built-out restaurant building with newer equipment and a drive-thru window. The property is available for lease at $3.75 NNN and can make a good investment property or owner-user property for a restaurant operator.
Property Features:
- Land Area Sq.Ft.: 8,798 (Per Zoning)
- Land Area Sq.Ft. For Development: 9,454 (8,798.5 + 656.25 increase for alley)
- Price Per Sq.Ft. on Land: $105.25
- Zoning: C2-2D-CPIO
- No. Of Units: TOC Menu: 39
- Price Per Unit: $25,512
- No. of Units 100% Affordable: 65
- Price Per Unit: $15,500
- Current Build-Out: Fast food restaurant with state-of-the-art equipment, two freezers, ice machine, commercial stove with hood, two bathrooms, drive-thru window, room for expansion to add more food services.
