Description
Maher Commercial Realty is pleased to present this unique opportunity to purchase or lease an +/-12,014 square foot lot zoned C2-1VL-CPIO TOC Tier 1. A developer can build up to 47 units on the site using the TOC menu, allowing for a 50% density bonus or up to 85 units under ED1. This is a very good value at $10,000 per buildable door and $70.75 per Sq.Ft. on land. 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.
Located one block from an upcoming 119 unit affordable housing project by Abode Communities.
Available for lease at $5,500 per month. Property uses include recycling center, tow yard, vehicle storage, property storage, auto service, auto body work, construction equipment storage, tire supplier, community services.
The Seller currently has a clean Phase II from the year 2024 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 85 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.
Property Features:
- Lease Rate: $5,500/Month
- Sale Price: $850,000 Seller financing available.
- Lot Size: +/-12,014 Sq.Ft.
- Price Per Sq.Ft. Land: $70.75
- Price Per Buildable Door: $10,000 for 85 units
- Zoning: C2-1VL-CPIO
- Number of Units: 85 under ED1
- APN: 6043-004-014, 6043-004-015, 6043-004-016
