Description
Opportunity Knocks! We are pleased to exclusively offer for sale 911 W. Manchester Ave. Los Angeles, CA 90044, a 74-Unit Development (100% Affordable Housing) Covered Land Play Offering in an area prime for new development. Located near Sofi Stadium, this exciting 16,131 square foot double lot Development Opportunity is Tier 3 TOC , allowing 70% Density. Current tenant is Month-To-Month Paying $5,000 per month and the property is Zoned C2-2D-CPIO. Based on zoning, we estimate 38 Buildable Units with TOC and +/- 74 Buildable Units with 100% Affordable Housing. Priced at $40,540 Per Buildable Unit for the 100% affordable option, this is an extremely well-priced multi-family development opportunity. The location has become very popular for new development, as there are more than 10 Multi-Family/Mixed-Use Developments being built close by. Property currently generates $54,726 in Annual Gross Income, which can continue to be collected during the approval process. Located one parcel over from EvermontLA, the exciting new mixed use development that just broke ground last week after many years of planning. Located at the Northeast corner of Vermont and Manchester, Evermont is a mixed-use development that will provide 180 units of affordable housing for seniors/families/youth, grocery and retail stores, a SEED school, a transit plaza, and a Metro training facility. 911 W. Manchester is a wonderful double lot development site located next to a very exciting large scale mixed-use project a long time in the works that will bring a lot of renewed energy and excitement to this area. Truly a rare new development opportunity!
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Listing Agent: Dana Brody 01429001 Courtesy of: Dana Brody "All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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Updated: 29th June, 2022 1:38 AM (UTC)
