Description
Maher Commercial Realty is pleased to present this unique opportunity to purchase a 3-unit retail center on a large half-acre lot in South LA. The building is comprised of ±8,744 SF on a generous ±22,365 SF lot with a liquor store, laundromat and paint shop in place. A parking lot with 18 striped spaces separate the two buildings.
The site is zoned C2-1VL-CPIO and is currently underutilized making it ideal for a multifamily development, affordable housing or retail investor. Month-to-month leases provide the new owner flexibility to keep these tenants, operate one or more of the businesses, or simply generate income during the entitlement process.
Using the TOC menu, a developer can build an ±87-unit development site. As an 100% affordable project, a buyer can build up to ±93 units and qualify for the current government incentives.*
This is a very good value at only $25,806 per buildable door as a 100% affordable site and $27,586 per door as a TOC mostly market-rate site.
This rare corner lot is located at the intersection of Avalon Blvd. and E. 81st Street with significant frontage along Avalon Blvd. and is easily accessible from the 110 Freeway exits off Firestone Blvd. and E 79th Street. Enjoy a central and densely populated location near South Park Elementary School, John C. Fremont High School, and renowned charter school KIPP Academy of Opportunity.
Property Features:
- List Price: $2,400,000
- Building Size: 8,744 Sq.Ft.
- Lot Size: 22,365 Sq.Ft.
- Price Per Sq.Ft. On Building: $274.47
- Price Per Sq.Ft. On Land: $107.31
- Zoning: C2-1VL-CPIO
- Number of Units (TOC Menu): 87
- Price Per Unit: $27,586
- Number of Units (100% Affordable): ±93*
- Price Per Unit: $25,806
- Current Build out: Three Retail Tenants, Month-to-Month
- Liquor Store: $7,227/Month
- Laundromat: $4,360/Month
- Paint Store: $1,150/Month
- Year Built: 1949
- Parking Spaces: 18 Striped Spaces plus Additional Parking
- APN Numbers: 6030-031-028, 6030-031-029, 6030-031-014
*The information provided above is for preliminary informational purposes only and should not be relied upon as a final determination of the project’s feasibility. Buyer to conduct own due diligence and verify development information. Maher Commercial Realty and the Seller have not made any investigation and makes no warranty or representation with respect to the development potential. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, the information contained herein is not a substitute for a thorough due diligence investigation.
