Description
Motivated Seller. Ownership will consider all reasonable offers.
Site is available for lease at $7,800/month.
Seller has a clean phase 2 environmental report on file. Ideal for a tire shop, car or truck storage, equipment storage, recycling centers, etc.
We are pleased to present this unique opportunity to purchase or lease an +/-12,014 square foot lot zoned C2-1VL-CPIO TOC Tier 1. There is a +/-3,000 Sq.Ft. building on the site in cold shell condition. The subject site is eligible for ED1 as a 100% affordable project, allowing for a streamlined entitlement and permitting process.
Conveniently located at the corner of S. Central Avenue and 88th Street in South Los Angeles. A developer can build up to 47 units on the site using the TOC menu, allowing for a 50% density bonus. This is a very good value at $22,340 per buildable door, $87.40 per Sq.Ft. on land and a clean Phase II on file. The site is comprised of three APN’s: 6043- 004-014, 6043-004-015 and 6043-004-016.
The property consists of a large lot with several vacant buildings. This site offers a savvy investor or developer a wide variety of options, from building a 47 unit residential building to leveraging the flexible C2 zoning and developing a commercial property on the site. Great location just three blocks south of Firestone Blvd. and Central Avenue.
This intersection is a main retail corridor offering national brands like KFC, Taco Bell, Family Dollar, Church’s, and Burger King, to local services like laundry, auto parts, florist, barbershop, mobile phone provider, and a church. Seller has a clean phase 2 environmental report on file. The site is comprised of three APN numbers 8802 S. Central (6043-004-014), 8806 S. Central (6043-004-015) and 8810 S. Central (6043-004-016).
Property Features:
- Lease Rate: $7,800/Month
- Sale Price: $1,050,000
- Lot Size: +/-12,014 Sq.Ft.
- Price Per Sq.Ft. Land: $87.40
- Price Per Buildable Door: $22,340
- Zoning: C2-1VL-CPIO
- Number of Units: 47
- APN: 6043-004-014, 6043-004-015, 6043-004-016
