Partners CRE | Compass Commercial are proud to exclusively present for sale a 102 Unit Development Opportunity.
Located in the heart of San Pedro (sandwiched between Rancho Palos Verdes and Long Beach), this project would rise in old commercial spaces, so no RSO or Ellis to worry about. The combined lots are 31,517 SF and zoned C2-1XL-CPIO.
The LA City Planning Commission Letter of Determination dated May 5, 2020, calls for a “four-story, 45 foot and five-inch tall residential building comprises of 102 dwelling units (including 12 Very Low Income Units). The Project will be approximately 83,158 square feet in floor area with a Floor Area Ratio (FAR) of 2.65:1.”
The Conceptual Project includes a pool, a gym, rooftop access, 127 parking spaces and a great mix of homes which includes 21 lofts, 33 studios, 19 1+1s, and 29 2+2s.
Current Conceptual Plans based on the Approved Entitlements are available but have not been submitted to Plan Check.
The area has lately seen a revitalization that is long in coming. With the highly anticipated West Harbor Project, One San Pedro and ALTA Sea Marine Institute (to name a few), the future of San Pedro is looking bright!
This property sits near the beach, near the San Pedro Fish Market, shopping, dining, nightlife and the Ports of Los Angeles and Long Beach!
Transaction includes four APNs: 7454-026-011, 7454-026-012, 7454-026-013 and 7454-026-014.
