Los Angeles, CA90003
| MLS# 25516917
Tract:
For Sale $1,295,000
Description
We are pleased to present this exceptional 10,402-square-foot vacant lot in the heart of South Los Angeles. This property offers a unique opportunity for developers to meet the growing demand for residential, commercial, and mixed-use projects. The property was previously RTI-approved for development, though the approvals have since expired. However, they can be renewed through an expedited process, providing a streamlined path to construction. The approved project features a 20-unit, 4-story mixed-use building with 18 market-rate units and 2 extremely low-income units, consisting of 14 two-bedroom, two-bath units and 6 one-bedroom, one-bath units. The development includes 710 square feet of commercial space, 19 automobile parking spaces, and 30 bicycle parking spaces, with a total gross area of approximately 14,828 square feet. With C2-1VL-CPIO zoning and a Tier 1 Transit-Oriented Communities (TOC) designation, developers can take advantage of State Density Bonus Laws (AB2334, AB2345, and AB1763) to build 50+ units of affordable housing. Additionally, a preliminary design for a 54-unit, 100% affordable housing development has been completed, showcasing the site's potential for higher-density residential use. This parcel will be delivered vacant at closing and is ready for immediate development. Whether pursuing the approved 20-unit project or maximizing the site's full potential, this lot provides an excellent foundation for a transformative project.
Facts
| Built in | Lot Size: 10402.00 sqft | HOA Dues: $0/month
Features
Listing provided by Jordan Petito, Keller Williams Beverly Hills
Based on information from California Regional Multiple Listing Service, Inc. as of April 2, 2025. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
