22209 S Vermont Ave - Industrial LAND FOR SALE


Torrance, CA 90502 38,768 SF
$2,500,000 USD
310-714-9500
22209 S Vermont Ave, Torrance, CA for Sale
$2,500,000 USD
Industrial LAND - FOR SALE
1/10
38,768 SF

22209 S Vermont Ave
Torrance, CA 90502


HIGHLIGHTS

  • M1 zoning in Unincorporated LA County with West Carson Transit Oriented Specific Plan with allows for expansive uses beyond M1
  • Location in close proximity to Harbor UCLA 1.7 billion dollar expansion plan due to be completed in 2027 which creates demand for housing
  • Front parcel at 951 West 223rd Street features 55 feet street frontage x 290 leading to rear parcel which is 200x115 feet, rectangular shaped

OVERVIEW

$700,000 price reduction, second major price adjustment. New pricing is $2,500,000, seller willing to carryback depending upon credit of buyer. The property is presently improved as a kennel. There are three separate buildings, one for large and very large dogs, 40 indoor/outdoor runs, one for medium sized doges, 40 indoor/outdoor runs, one building for smaller dogs, in door/outdoor runs. A large open building currently being used for storage and laundry. A cattery, a large grooming room, an office for the business and a two-bedroom house and a double-wide trailer is included in the price. Property is rare two parcels totaling .89 acres in unincorporated Los Angeles County which is currently improved as a pet boarding facility. Major price reduction from $105.00 psf to only $79.00 per square feet or $3.1 million. Some income possible during the entitlement process, call broker for information. Outstanding two parcel of industrial zoned land ready for redevelopment to higher and better uses. Front parcel has 55 feet visibility on 223rd street, rear parcel has rectangular dimensions of 200x115 feet for many possible future designs. Located 1 block South of UCLA Medical Center and surrounded by many new apartment and townhome developments, this location offers many advantages over other sites. A neighboring 99-unit 5 story apartment complex indicates a strong demand for housing in this submarket. The 1.7 billion dollar replacement expansion of Harbor UCLA Medical Center by 2027 one block North is certain to generate demand for housing from health care professionals. Per Los Angeles County Regional Planning, property is zoned M1, and with the West Carson Transit oriented specific plan allowing for many uses including mixed use development, commercial residential development and multi-family dwelling units the site is not limited to industrial only. See Table 3:13 on page 72 of the specific plan for permissible uses beyond M1. Per the planning department of Los Angeles County: "Based upon initial review of the recent state laws, we think multi-family residential might be allowed at these parcels under SB6 Middle Class Housing Act of 2022. SB6 allows multi-family residential in zones where office, retail, or parking are a principally permitted use without the need for rezoning. The project site appears to meet the locational criteria for SB 6, (Project size less than 20 acres, it is in a zone where office, retail or parking is allowed, it is not on a site or adjoined to an site where more than one-third of the square footage is dedicated to industrial use, etc.) Please research SB6 which gives developer more control over local jurisdictions.

FOR SALE DETAILS

PRICE

$2,500,000 USD

PRICE/ACRE

$2,809,018/AC

PRICE/SF

$64 USD /SF

# OF LOTS

-

LAND DETAILS

PROPERTY NAME

951 W 223rd Street

PROPERTY TYPE

Land

PROPERTY SUBTYPE

Industrial

LAND PROPOSED USE

Industrial, Apartment Units, Apartment Units - Subsdzd, Hold for Development, Horse Stables, Veterinarian/Kennel

LAND ACRES

0.89 AC

LAND SF

38,768 SF

OFFSITE IMPROVEMENTS

Sewer, Water, Electricity, Streets, Curb/Gutter/Sidewalk, Telephone

ZONING

LA County M1

APN/PARCEL ID

7344-004-011,7344-004-021

ASK ABOUT THIS PROPERTY

Arnold NgApex Commercial Real EstateMore Info
310-714-9500

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Arnold NgApex Commercial Real EstateMore Info
310-714-9500

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