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$1,295,000
Est. payment /mo
10,402 Sqft Lot
UPDATED:
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 25516917
Lot Size 10,402 Sqft
Acres 0.2389
Property Description
We are pleased to present this exceptional 10,402-square-foot vacant lot in the heart of South Los Angeles. This property offers a unique opportunity for developers to meet the growing demand for residential, commercial, and mixed-use projects. The property was previously RTI-approved for development, though the approvals have since expired. However, they can be renewed through an expedited process, providing a streamlined path to construction. The approved project features a 20-unit, 4-story mixed-use building with 18 market-rate units and 2 extremely low-income units, consisting of 14 two-bedroom, two-bath units and 6 one-bedroom, one-bath units. The development includes 710 square feet of commercial space, 19 automobile parking spaces, and 30 bicycle parking spaces, with a total gross area of approximately 14,828 square feet. With C2-1VL-CPIO zoning and a Tier 1 Transit-Oriented Communities (TOC) designation, developers can take advantage of State Density Bonus Laws (AB2334, AB2345, and AB1763) to build 50+ units of affordable housing. Additionally, a preliminary design for a 54-unit, 100% affordable housing development has been completed, showcasing the site's potential for higher-density residential use. This parcel will be delivered vacant at closing and is ready for immediate development. Whether pursuing the approved 20-unit project or maximizing the site's full potential, this lot provides an excellent foundation for a transformative project.
Location
State CA
County Los Angeles
Area Downtown L.A.
Zoning C2-1VL-CPIO
Exterior
View Y/N Yes
View City, City Lights
Others
Special Listing Condition Standard
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Listed by Keller Williams Beverly Hills
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Devin McNichol & Aaron Bernbach
Agent | License ID: 02038322
Agent License ID: 02038322