Redevelopment Site - Build 100 Units By-Right 10921-11003 Hawthorne Blvd 7,903 SF Retail Building Lennox, CA 90304 $3,850,000 ($487.16/SF)

This sale offers the opportunity to purchase a redevelopment site zoned for residential and commercial uses. The site features a by-right buildable density of 150 units per acre (100 units at the subject property), is located in a transit oriented district (no parking requirement), is within a qualified opportunity zone and is proximate to the light rail line and Sofi Stadium.
The subject property, located at 10921-11003 Hawthorne Boulevard, consists of five parcels for a total of 29,229 square feet of land. The site has been improved with numerous commercial structures. The buildings are in good condition and can potentially continue to be used, if so desired. Zoning on the site is MXD which is a commercial zoning designation that permits for residential and commercial uses. Residential developments are permitted by-right, at a density of 150 units per acre and up to a maximum height of 65 feet. The pertinent inclusionary housing policy will require a minimum of 10-20% low-income units, depending on the development project.
Located only 0.25 miles from the Hawthorne/Lennox light rail station (C-Line), the subject site is situated in a transit oriented district, offering certain development benefits, including no parking requirement. Also, the site falls within a qualified opportunity zone, providing significant tax advantages for certain development projects.
The subject property is situated in a desirable, growing area that is proximate to numerous entertainment, dining and retail establishments. The site is 2 miles from SoFi Stadium, 1 mile from the Intuit Dome, 3 miles from Los Angeles International Airport and less than 1 mile from Jefferson Elementary School. Located on Hawthorne Boulevard one block north of the 105 freeway, the site is located in an area of unincorporated Los Angeles County (Lennox) and is part of the county’s South Bay Area Plan.
11011-11019 Hawthorne Boulevard offers the opportunity to purchase a redevelopment site in a desirable location. The property offers desirable development characteristics and is suitable for both residential and commercial uses.