9825 S Broadway
Los Angeles, CA 90003
0.25 acres | #23269391
Description
We are pleased to present this unique opportunity to purchase an 11,064 square foot parcel zoned C2-1VL-CPIO located in South Central Los Angeles which is currently under utilized with a 1,857 square foot church structure. The property benefits from being in a TOC tier 3 (transit oriented community) which means that a developer can obtain a 70% density bonus if they build this project with an affordable component to it. By-right a developer can build 27 units or using the TOC menu can build 48 units. However, by utilizing AB2345 and building a 100% affordable project a developer can likely build up to a maximum of 84 units, most or all of which would likely be studios or very small one-bedrooms. There would be no parking requirement for such a project. Lease all units to Section 8 tenants and collect market rents! Great value at $33,229/buildable door for TOC project and $19,000/buildable door for a 100% affordable project. Agent and seller make no warranties regarding development potential, Buyer to verify with their own land use consultants and City of Los Angeles.
Location
Legal
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Listing Courtesy
Listing Agent: Oron Maher (#CLW-C137215)
Listing Office: Maher Commercial Realty (#CLW-X83092)
