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Value Added Opportunity for a fully vacant Retail/Office/Residential property consisting of 7,824 SF of building and 5,663.SF of land. Potential to remodel the existing building or build new development. Listed at below market prices and has live/work potential. Mid Century Modern Mixed Use 2 Story Building located on Western Avenue, just south of Vernon Avenue.1st Floor has 7 commercial units (retail and office)2nd Floor has 4 one-bedroom and one-bathroom residential apartment unitsGated parking lot in rear with alley access. Property also features an atrium, front and rear staircases, and a storage room.Located in an Opportunity Zone, Los Angeles State Enterprise Zone , Redevelopment Project Area - Western/Slauson, and Urban Agriculture Incentive Zone. Property has some deferred maintenance and needs updating. Various incentives and highly desirable loan programs for owner-users are available. Property neighbors several large new developments. Neighborhood has lots of upside and growth potential. Across the Street from Barack Obama Global Preparation Academy & Westbrook Middle School. On Western Avenue Between 46th and 47th Street, South of Vernon Ave and North of Slauson Ave.Located in Transit Oriented Community Tier 3 (TOC 3) with bus stops located at Western/Vernon and Western/48th Ave. The centrally located property is eligible for Reduced Parking Requirements, AB 2334 Density Bonus, and probably AB 2011 Streamlined Approval. Showing by appointment.
Property Type(s):
Residential Income
| Last Updated | 11/5/2024 | Year Built | 1962 |
|---|---|---|---|
| Community | Los Angeles Southwest | County | Los Angeles |
Additional Details
| AIR | None |
|---|---|
| AREA | Los Angeles Southwest |
| GARAGE | Gated, Uncovered |
| HEAT | Natural Gas |
| LOT | 5722 sq ft |
| PARKING | Gated,Uncovered |
| STORIES | 2 |
| ZONING | LAC2 |
Location
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Listed with Jonathan Varsano
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