5304 Figueroa St, Los Angeles, CA 90037
0.28 Acres of Commercial Land Offered at $2,200,000 USD in Los Angeles, CA 90037
For Sale
Active
Asking Price $2,200,000
- Property Type
-
Land
- Square Feet
- 12,197 SF
Listing Contacts
Julian Bloch
Andres Diaz
Property Overview
Kingside Investment Group is proud to present for sale a 32-unit affordable housing development opportunity on a 12,150 square foot (0.27 acres) lot in the Vermont Harbor neighborhood of South Los Angeles. The current owner has completed the project to ready-to-issue permits making it a lucrative opportunity for any merchant builder wanting to avoid the long lead times.
The actual building itself has been uniquely designed for two (2) side-by-side sixteen (16) unit buildings situated within a three-story floorplan. The project was well thought out with a great unit mix of twenty-four (24) 1-beds and eight (8) 2-beds. Of those there is one (1) unrestricted unit that is reserved for an onsite property manager.
The proposed development is located in the Vermont Harbor neighborhood of South Los Angeles. Vermont Harbor which is bounded by Vernon Avenue to the north, Slauson to the south, and Figueroa to the east. There are ongoing efforts to revitalize the area, improve infrastructure, and provide better services to residents which will make this a valuable development project for years to come.
-Seller financing available with a 30-year loan
-Soils report has already been completed
-Ready-to-issue permits at the close of escrow
-Wood frame construction, only three-floors high
-Ability to start the project right away
The actual building itself has been uniquely designed for two (2) side-by-side sixteen (16) unit buildings situated within a three-story floorplan. The project was well thought out with a great unit mix of twenty-four (24) 1-beds and eight (8) 2-beds. Of those there is one (1) unrestricted unit that is reserved for an onsite property manager.
The proposed development is located in the Vermont Harbor neighborhood of South Los Angeles. Vermont Harbor which is bounded by Vernon Avenue to the north, Slauson to the south, and Figueroa to the east. There are ongoing efforts to revitalize the area, improve infrastructure, and provide better services to residents which will make this a valuable development project for years to come.
-Seller financing available with a 30-year loan
-Soils report has already been completed
-Ready-to-issue permits at the close of escrow
-Wood frame construction, only three-floors high
-Ability to start the project right away
Property Details
- Property Subtype
- Commercial
All available spaces
- Space
- Lot 1
- Size
- 12,197 SF
- Price
- $2,200,000
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