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$ 5,000,000
Est. payment /mo
Active
3550 S Western Ave Los Angeles, CA 90018
9,887 SqFt
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Land
Listing Status Active
Purchase Type For Sale
Square Footage 9,887 sqft
Price per Sqft $505
MLS Listing ID 26985049
Year Built 1994
Lot Size 0.936 Acres
Acres 0.94
Property Sub-Type Land
Property Description
Unentitled commercial or mid-rise housing development opportunity near USC. Covered land play - all seven (7) tenants are month-to-month and are currently generating approximately $19,000 per month gross rental income. Redevelopment possibilities for a gym, school, senior/assisted living, housing, etc. Architect analysis showed a potential 169+ unit count (115 market rate, and 54 affordable) with the CPIO density bonus, for a 5-story mid-rise build with type IIIB construction.The primary site for sale includes three (3) contiguous parcels totaling 40,769 SF of land zoned C2-2D-O-CPIO. The corner lot (contiguous with the primary site) is owned by a separate seller and can also be delivered separately to complete the block. The corner lot would add an additional 5,857 SF of land, bringing the total size of the assemblage to over one (1) acre.This site presents an increasingly rare opportunity to secure an entire block ripe for development within the inevitable path of USC's continual westward expansion.
Location
State CA
County Los Angeles
Area Los Angeles Southwest
Zoning LAC2
Exterior
Garage Spaces 21.0
Building
Story 1
Others
Special Listing Condition Standard
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Listed by Saxum West
NEARBY SCHOOL & BUSINESS
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