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1218 W Manchester Ave - Build up to 200± Units - 129 Unit Proj. Avail 0.76 Acres of Commercial Land Offered at $2,850,000 in Los Angeles, CA 90044
INVESTMENT HIGHLIGHTS
- 200+/- Units Possible On Site
- ED1 Eligible - 16 Foot Alley
- Short commute to Inglewood
- 129 Unit Mixed-Use Project Available - Near RTI
- Tremendous Visibility
- Delivered Vacant - No need for Relocation
EXECUTIVE SUMMARY
Partners CRE is proud to present for sale a redevelopment opportunity in the heart of South Los Angeles.
The Commercially Zoned property spans 240 feet of frontage on Manchester Ave., sitting in front of a 16 foot alley, and totals over 33k SF of land, three quarters of an acre! Sitting between Normandie Ave. & Vermont Ave., you are just a hop and a skip to the 110 Freeway.
A Developer can potentially build up to 200± units by utilizing ED1. However, to keep to a cost-effective development with only 3 stories, a 100-unit project is very doable with rewarding numbers. Taking into account the alley in back, a building partially or fully parked may be in the future.
The Seller has submitted a 129-Unit Mixed-Use Project to the City. The existing TOC Project can be delivered almost-RTI, with the only requirements pending being the Grading Bond (around $20k) and the Sewer Tie Fee (around $65k) - work estimated to take around 30 days. Plans are available upon request.
There is a leased Cell Tower in the back of the property that is not part of the listing and will not be part of any sale.
The property is in a dense area with over 400K people in a 3-mile radius. The development site is a short commute to the City of Inglewood, which is home to Sofi Stadium, Kia Forum and Intuit Dome.
The property will be delivered vacant at the close of escrow – with only the Cell Tower lease active on site.
PROPERTY FACTS
1 LOT AVAILABLE
Lot
| Price | $2,850,000 | Lot Size | 0.76 AC |
| Price Per AC | $3,759,492.72 |
| Price | $2,850,000 |
| Price Per AC | $3,759,492.72 |
| Lot Size | 0.76 AC |
240 Feet of Frontage. Commercially Zoned. 200+/- Units Possible On Site. 129 Unit Mixed-Use Project Available - Near RTI.
DESCRIPTION
Partners CRE is proud to present for sale a redevelopment opportunity in the heart of South Los Angeles. The Commercially Zoned property spans 240 feet of frontage on Manchester Ave., sitting in front of a 16 foot alley, and totals over 33k SF of land, three quarters of an acre! Sitting between Normandie Ave. & Vermont Ave., you are just a hop and a skip to the 110 Freeway. A Developer can potentially build up to 200± units by utilizing ED1. However, to keep to a cost-effective development with only 3 stories, a 100-unit project is very doable with rewarding numbers. Taking into account the alley in back, a building partially or fully parked may be in the future. The Seller has submitted a 129-Unit Mixed-Use Project to the City. The existing TOC Project can be delivered almost-RTI, with the only requirements pending being the Grading Bond (around $20k) and the Sewer Tie Fee (around $65k) - work estimated to take around 30 days. Plans are available upon request. There is a leased Cell Tower in the back of the property that has about 12 years remaining on the lease, with built-in income. The property is in a dense area with over 400K people in a 3-mile radius. The development site is a short commute to the City of Inglewood, which is home to Sofi Stadium, Kia Forum and Intuit Dome. The property will be delivered vacant at the close of escrow – with only the Cell Tower lease.
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $425,008 | |
| Land Assessment | $1,924,263 | Total Assessment | $2,349,271 |
PROPERTY TAXES
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1218 W Manchester Ave - Build up to 200± Units - 129 Unit Proj. Avail
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