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$1,125,000
Est. payment /mo
1,125 SqFt
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Land
Listing Status Active
Purchase Type For Sale
Square Footage 1,125 sqft
Price per Sqft $1,000
MLS Listing ID 26670245
Year Built 1950
Lot Size 0.351 Acres
Acres 0.3506
Property Sub-Type Land
Property Description
An exceptional opportunity to acquire a high-visibility corner commercial lot totaling 15,268 SF in a thriving and easily accessible Los Angeles location. This property combines immediate income potential with strong long-term development upside, making it ideal for investors, developers, and owner-users.Currently improved with two income-producing tenants occupying approximately 1,800 SF and generating $2,400 per month, the property delivers steady cash flow while plans advanceor can be delivered vacant for full redevelopment. If the new owner elects to lease the property, there are qualified tenants ready to step in, offering seamless occupancy and immediate income continuity.A major value-add highlight: the site is approximately 60% RTI (Ready-To-Issue) for permits to construct a 4-story, 87-unit apartment building designed for supportive housing. With significant progress already completed, this project offers a head start toward groundbreaking and positions the next owner to meet growing community housing needs while capturing substantial development potential.With roughly 13,468 SF of open land remaining, this property provides outstanding flexibility, visibility, and long-term upside. Developers can leverage existing income during the entitlement and permitting phases, while owner-users can offset holding costs or reposition the site for their own vision.
Location
State CA
County Los Angeles
Area Metropolitan South
Zoning LAC2
Others
Special Listing Condition Standard
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Listed by Realty Group Advisors
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