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Property Detail

South Vermont Avenue
6430 S Vermont Avenue is an opportunity to purchase a 50- by 150-foot commercial lot .
$1,050,000

Description

  • 6430 S Vermont Avenue is an opportunity to purchase a 50- by 150-foot commercial lot with the potential for multifamily development.
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  • With flexible zoning, the site has RTI plans for a 23-unit apartment complex with two affordable units and the option to re-entitle for more.
  • Situated close to many amenities and attractions such as Superior Grocers, Five Below, Crypto.com Arena, and the Los Angeles Convention Center.
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  • In proximity to Augustus Hawkins High School, USC, and neighboring Central Almeda, South Park, and South Figueroa communities.

Executive Summary

6430 S Vermont Avenue presents 0.17 acres of residential land with unlimited development potential in Los Angeles, California. Zoned C2-1-CPIO (Commercial - Community Plan Implementation Overlay District), this site has permitted uses for any commercial use in multifamily, restaurants, shops, offices, and entertainment businesses. This plot of land can be kept as-is for triple-net (NNN) open storage or reworked to bring a developer's dream to life.

Poised for development, the property has building plans that are ready to issue (RTI) to construct an apartment complex comprising 23 units. With the caveat, two of the units are designated as affordable. Alternatively, the project can be re-entitled utilizing ED-1 (Executive Directive 1) to develop 43 100% affordable units.

Strategically located in South Los Angeles or South Central, a culturally rich area home to the University of Southern California (USC), the museums and stadiums of Exposition Park, and the famous Watts Towers. 6430 S Vermont Avenue is less than a mile from various shopping, dining, and entertainment amenities. Interstate 10 is easy to access from W Florence Avenue and Slauson Avenue for those traveling around greater Los Angeles. Developers and investors will find that 6430 S Vermont Avenue is an exceptional destination ready to provide shovel-ready land.

 

6430 S Vermont Ave

Listing ID : 00881

SKU: 881

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Price History

DateEventPrice
December 13 2024Listed$1,050,000.00