9606 S Western Ave - Schools FOR SALE


Los Angeles, CA 90047- South Central LA
$1,895,000 USD
310-710-1018
9606 S Western Ave, Los Angeles, CA for Sale
$1,895,000 USD
Schools - FOR SALE
1/11
null | 7.73% Cap Rate

NEW


9606 S Western Ave
Los Angeles, CA 90047
South Central LA


HIGHLIGHTS

  • Affordable housing developer or nonprofit ready to build 100+ units using ED1, TOC Tier 2, or AB 2011
  • Ideal for a car wash, quick-service drive-through, or most types of retail and commercial development,
  • 8,127 SF of purpose-built improvements on a 24,551 SF corner lot at ~$258/SF, well below replacement cost.
  • Three income streams generating an est $15,264/month in pro forma gross income at a 7.73% pro forma cap rate | built-in developer exit via TOC Tier 2
  • Patient capital seeking a TOC-designated corner assemblage with income today and development optionality tomorrow
  • TOC Tier 2, ED1, and AB 2011, no hearing, no CEQA, at ~$77/SF land.

OVERVIEW

A rare three-parcel assemblage totaling approximately 24,551 square feet (0.56 acres) at the signalized hard corner of S. Western Avenue and W. 96th Street. The lot is bordered by a rear alley with ingress and egress from three sides, Western Avenue, 96th Street, and the alley itself, giving any future development exceptional flexibility for site circulation, drive-through stacking, and multiple points of access. This configuration makes the site ideal for a car wash, quick-service drive-through, or most types of retail and commercial development, maximizing benefit from corner visibility and multi-sided access. The property is zoned C2-1VL-CPIO, offering broad commercial development flexibility at a signalized intersection along a high-traffic corridor. Improvements currently on site total approximately 8,127 square feet across two structures, a licensed preschool campus (6,195 SF) and a church sanctuary (1,932 SF), plus a third vacant parcel offering near-term income potential from uses such as a recycling center or tow yard. Combined, the assemblage projects an estimated $15,264/month in gross income and approximately $146,434 in annual NOI, supporting the $1,895,000 asking price at a pro forma cap rate of approximately 7.73%. For a developer, this hard-corner, alley-accessed assemblage is a rare opportunity to acquire land along Western Avenue with existing cash flow in place while planning a car wash, drive-through, or retail/commercial redevelopment.

FOR SALE DETAILS

PRICE

$1,895,000 USD

PRICE/SF

$233 USD /SF

CAP RATE

7.73%

% LEASED

-

TENANCY

-

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Schools

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

1957

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.56 AC

LAND SF

24,551 SF

ZONING

C2-1VL-CPIO (TOC) Tier 2

APN/PARCEL ID

6055-022-028,6055-022-029,6055-022-030

ASK ABOUT THIS PROPERTY

Nicole LuMaher Commercial RealtyMore Info
310-710-1018

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Nicole LuMaher Commercial RealtyMore Info
310-710-1018

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