Description
Maher Commercial Realty is pleased to present an exceptional opportunity to acquire an approximately 11,064-square-foot parcel zoned C2-1VL-CPIO, TOC Tier 3, in South Central Los Angeles. The site is currently underutilized, featuring a 1,857-square-foot church structure and an additional bungalow that does not appear to be affixed to the land.
With significant development potential, the CHIP Ordinance density bonus rules estimate a maximum of 59 units, though required open space and bicycle parking provisions reduce the total buildable units to 56. Using the TOC Tier 3 density rules, the site allows for up to 48 units, providing another viable option for maximizing density. Using ED1 100% affordable housing density rules, the maximum allowable units are 49, with open space and parking requirements limiting the total to 46.
At less than $100 per square foot of land and just $18,750 per buildable door, this offering presents an exceptional value for developers. With Los Angeles facing a persistent housing shortage and strong rental demand, this property is well-positioned for a high-impact development that aligns with the city’s urgent need for more housing. The property is also conveniently located near several parks and recreation centers, including the Green Meadows Recreation Center, which offers a variety of sports facilities and community programs, and the Mary McLeod Bethune Park, featuring playgrounds and picnic areas, both within a mile of the site.
Property Features:
Purchase Price: $1,050,000
Land Area: ±11,064 Square Feet
Price Per Sq.Ft. on Land: $94.90
Zoning: C2-1VL-CPIO
No. of Units: TOC Menu: 48
Price Per Unit: $21,875
No. of Units: 100% Affordable: 46
Price Per Unit: $22,826
No. of Units: CHIP Density Bonus Rules: 56
Price Per Unit: $18,750
Property Highlights:
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Approximately 11,064-square-foot parcel zoned C2-1VL-CPIO, TOC Tier 3
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The site consists of a 1,857 Sq.Ft. church structure and an additional bungalow that does not appear to be affixed to the land
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CHIP Ordinance density bonus rules estimate a maximum of 59 units, though required open space and bicycle parking provisions reduce the total buildable units to 56
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Using the TOC Tier 3 density rules, the site allows for up to 48 units
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Using ED1 100% affordable housing density rules, the maximum allowable units are 49, with open space and parking requirements limiting the total to 46
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Less than $100 per square foot of land and just $18,750 per buildable door
- This property is well-positioned for a high-impact development that aligns with the city’s urgent need for more housing
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Conveniently located near several parks and recreation centers, including the Green Meadows Recreation Center and Mary McLeod Bethune Park are within one mile of the site.
