Development opportunity. Vacant lot, with current monthly gross scheduled income: $2,116, making about a 5% cap rate, without constructing. Lot has potential to develop 9 residential units (plus or minus), if at least 2 units are affordable to lower income house holds (80% AMI). Proposed project could have first-floor parking, with three residential floors above. The lot is part of the county, and conveniently located near major freeways, Inglewood Stadium project, and LAX. This area could be the next stage of the eastward expansion taking over west Los Angeles. There is a billboard lease, set to expire next year, with opportunity to possibly renegotiate rent. Disclaimer: No Plans have been approved by the county. Rendering in pictures are for marketing purposes only, with no expressed guarantee. Buyer to do their own investigation, to verify county requirements for developing land and getting permits. This information may be deemed unreliable. No guarantee is given. Buyer to verify.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
