21312 E Arrow Hwy - Storefront Retail/Residential FOR SALE


Covina, CA 91724- Charter Oak
$2,250,000 USD
949-943-4100
21312 E Arrow Hwy, Covina, CA for Sale
$2,250,000 USD
Storefront Retail/Residential - FOR SALE
1/26
null | Request Cap Rate

21312 E Arrow Hwy
Covina, CA 91724
Charter Oak


HIGHLIGHTS

  • Heavy Arrow Highway Street Front Traffic
  • High Density Residential Zone

OVERVIEW

RARE DEVELOPMENT & INVESTMENT OPPORTUNITY – ARROW HIGHWAY CORRIDOR Excellent opportunity to acquire an approximately 0.30-acre property with prominent frontage along Arrow Highway in unincorporated Los Angeles County. The property offers potential long-term redevelopment, investment and assemblage value in an area experiencing continued residential development activity. The site is currently improved with an existing residence, providing potential interim use while an investor, builder or developer evaluates future redevelopment opportunities. DEVELOPMENT & INVESTMENT POTENTIAL The surrounding Arrow Highway corridor has experienced residential development activity, including apartment, multifamily and townhome projects. Nearby multifamily and development properties have also been marketed in the $4 million+ range as of the time of this listing, demonstrating continued investor and developer interest in the surrounding area. Los Angeles County housing and planning documents have identified this parcel and neighboring properties in connection with higher-density housing planning. Prospective buyers should review the applicable County planning documents and independently confirm the property's current zoning, allowable density, development standards and entitlement requirements directly with Los Angeles County. POTENTIAL ASSEMBLAGE OPPORTUNITY The property's location adjacent to other parcels may provide additional long-term value for a developer seeking to assemble a larger development site. Acquisition of neighboring parcels is not included in this offering, and no representation is made regarding their availability; however, the property's location may make it strategically valuable as part of a future assemblage. PROPERTY HIGHLIGHTS • Approximately 0.30 acres • Prominent Arrow Highway frontage • Unincorporated Los Angeles County location • Existing residential improvement • Potential interim use while evaluating redevelopment • Potential long-term redevelopment value • Potential assemblage value with neighboring parcels • Located within an area experiencing residential development activity • County planning documents identify the parcel and surrounding properties in connection with higher-density housing planning • Opportunity for developers, builders, investors and land buyers seeking a strategically located San Gabriel Valley property PLANNING REFERENCE Los Angeles County Housing Element / planning materials may provide additional information regarding the parcel and surrounding area. At the time of this listing, relevant information was referenced on approximately page 327 of the following California Department of Housing and Community Development document: https://www.hcd.ca.gov/housing-elements/docs/los-angeles-co-6th-draft060721.pdf Prospective buyers and their representatives are strongly encouraged to independently review all applicable County and State planning documents and contact Los Angeles County Planning regarding current zoning, permitted uses, density, development standards and entitlement requirements. IMPORTANT BUYER DUE DILIGENCE Buyer and buyer's broker/agent shall independently investigate and verify all information concerning the property, including but not limited to zoning, permitted uses, density, development potential, redevelopment potential, assemblage opportunities, parcel size and boundaries, access, utilities, easements, environmental conditions, governmental requirements, entitlement requirements and the feasibility of any proposed development. Any references to potential development, density, higher-density housing planning, assemblage or redevelopment are provided for informational and marketing purposes only and should not be interpreted as representations that any particular project, number of units or development plan will be approved. Seller and listing broker/agent make no representations, warranties or guarantees regarding future development, allowable density, entitlements, neighboring parcel availability or the feasibility or approval of any proposed project. NO SHOWINGS. DRIVE-BY OFFERS ONLY. Please do not disturb occupants. Property is being marketed primarily for its location, investment potential and possible long-term redevelopment/assemblage value.

FOR SALE DETAILS

PRICE

$2,250,000 USD

PRICE/SF

$1,288 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

ADD'L SUBTYPES

Office/Residential

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1953

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,199 SF

ZONING

LCC4

APN/PARCEL ID

8401-021-058

ASK ABOUT THIS PROPERTY

Jason AllenMOSO Real EstateMore Info
949-943-4100

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Jason AllenMOSO Real EstateMore Info
949-943-4100

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.