3550 S Western Ave - Commercial LAND FOR SALE


Los Angeles, CA 90018- South Central LA40,768 SF
$5,000,000 USD
310-422-3891
3550 S Western Ave, Los Angeles, CA for Sale
$5,000,000 USD
Commercial LAND - FOR SALE
1/6
40,768 SF

3550 S Western Ave
Los Angeles, CA 90018
South Central LA


HIGHLIGHTS

  • UNENTITLED REDEVELOPMENT OPPORTUNITY - Commercial (retail, gym, school, etc.) or Residential (affordable housing, senior/assisted living, etc.)
  • AS A HOUSING DEVELOPMENT - build 169+ units (including 115+ market rate units) with the CPIO density bonus (does not require QCT/DDR designation)
  • RARE ENTIRE BLOCK - corner parcel can also be delivered for $1.5M, which would complete the block
  • USC ADJACENT - located only 1 mile directly west of campus and next to a multititude of recent off-campus housing developments
  • COVERED LAND PLAY - Current income is approx. $19,000 per month gross - All tenants are MTM
  • PRICE REDUCED - highly motivated seller

OVERVIEW

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. Call broker for more information.

FOR SALE DETAILS

PRICE

$5,000,000 USD

PRICE/ACRE

$5,342,297/AC

PRICE/SF

$123 USD /SF

# OF LOTS

-

LAND DETAILS

PROPERTY TYPE

Land

PROPERTY SUBTYPE

Commercial

LAND PROPOSED USE

Commercial, Apartment Units, Single Family Development

LAND ACRES

0.94 AC

LAND SF

40,769 SF

OFFSITE IMPROVEMENTS

Sewer, Water, Electricity, Gas, Streets, Curb/Gutter/Sidewalk, Cable, Telephone, Irrigation

ZONING

C2-2D-O-CPIO

APN/PARCEL ID

5041-012-049,5041-012-050,5041-012-054

ASK ABOUT THIS PROPERTY

Joe BologneseSaxum WestMore Info
310-422-3891

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Joe BologneseSaxum WestMore Info
310-422-3891

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