Description
The subject site is eligible for ED1 as a 100% affordable project, allowing for a developer to build up to 85 units at $11,165 per door.
Seller financing available. Motivated Seller. Ownership will consider all reasonable offers.
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. 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 $20,191 per buildable door, $78.99 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 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. 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:
- Price: $949,000 Seller financing available.
- Lot Size: +/-12,014 Sq.Ft.
- Price Per Sq.Ft. Land: $78.99
- Price Per Buildable Door: $11,165
- Zoning: C2-1VL-CPIO
- Number of Units: 85 under ED1
- APN: 6043-004-014, 6043-004-015, 6043-004-016
