Description
***The property has never been use as a gasoline station. Please see supplementals for all certificate of occupancies*** The GAFF team proudly presents this great development opportunity in one of the hottest and upcoming neighborhoods of Los Angeles Known as Hyde Park, a neighborhood that is only 1.5 miles from Inglewood and already has million dollar single family residences. This property has many exit strategies for investors off all classes. Highest and best use for many is that the lot is zoned LAC2 - CPIO - subarea: Neigborhood-Serving Corridor... This sub area allows for 100% residential use OR commercial use. Investors can build up 18 units by-right or up to 29 units utilizing TOC tier 1 density and AB2097 which reduces parking requirements. This is a sales price of $48,000 per buildable lot. This builder friendly lot totals an estimated 7,500 sqft (75x100) with alley access. Great cash-flow opportunity for those who are in the affordable housing sector. Property sits on 3 separate lots...perhaps building an SFR with ADU on each lot and re-selling as 3 different sales for a developer with smaller appetite who wants to be in-n-out in short period of time. 2029 Florence is located near Crenshaw Blvd where there is currently a massive redevelopment project in process. The Crenshaw/LAX Transit Project and the Baldwin Hills Crenshaw Plaza Master Plan Project developments target is to invest an estimate of $1B in the next 4-6 years. Other near businesses and retailers include Well's Fargo, McDonalds, US postal service, SOFI stadium (2.5mi), and LAX airport.
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0.17ACRES
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01/2 BATHS
School Ratings & Info
Description
***The property has never been use as a gasoline station. Please see supplementals for all certificate of occupancies*** The GAFF team proudly presents this great development opportunity in one of the hottest and upcoming neighborhoods of Los Angeles Known as Hyde Park, a neighborhood that is only 1.5 miles from Inglewood and already has million dollar single family residences. This property has many exit strategies for investors off all classes. Highest and best use for many is that the lot is zoned LAC2 - CPIO - subarea: Neigborhood-Serving Corridor... This sub area allows for 100% residential use OR commercial use. Investors can build up 18 units by-right or up to 29 units utilizing TOC tier 1 density and AB2097 which reduces parking requirements. This is a sales price of $48,000 per buildable lot. This builder friendly lot totals an estimated 7,500 sqft (75x100) with alley access. Great cash-flow opportunity for those who are in the affordable housing sector. Property sits on 3 separate lots...perhaps building an SFR with ADU on each lot and re-selling as 3 different sales for a developer with smaller appetite who wants to be in-n-out in short period of time. 2029 Florence is located near Crenshaw Blvd where there is currently a massive redevelopment project in process. The Crenshaw/LAX Transit Project and the Baldwin Hills Crenshaw Plaza Master Plan Project developments target is to invest an estimate of $1B in the next 4-6 years. Other near businesses and retailers include Well's Fargo, McDonalds, US postal service, SOFI stadium (2.5mi), and LAX airport.
Based on information from California Regional Multiple Listing Service, Inc. as of 2023-09-26T00:27:18.6. 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 deemed reliable but is not guaranteed accurate by the MLS or Blomgren & Blomgren | Bennion Deville Homes. Licensed in the State of California, USA.