257 E Vernon Ave | Los Angeles, CA 90011
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- LoopNet Team
257 E Vernon Ave
Los Angeles, CA 90011
Church's Chkn Vacant Dec '24 | 0.24 Acre Lot · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Restaurant site built in 1969; Occupied by large national credit tenant Church’s Chicken until 12/27/24
- Potential for multifamily OR restaurant redevelopment; or re-tenant the current space
- Solid rental income of $4,976/mo through end of 2024 calendar year; Absolute NNN lease
- 10,305 SqFt corner lot Zoned LAR3 with Tier 3 TOC, multifamily residential; 0.24 Acres
- +/- 12 residential units by right, +/- 22 units with TOC, or 75+ units via Unlimited Density with an ED1 100% Affordable Project (Buyer to verify)
- Under $116/SF of land, no RSO obligations, no relocation fees, and no Ellis Act requirements
PROPERTY FACTS
Property Type
Retail
Property Subtype
Fast Food
Building Size
800 SF
Building Class
C
Year Built
1969
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
0.24 AC
Zoning
R3 - This is a Legal Non-Confirming Commercial Use on R3 - Multiple Dwelling zoning
Parking
20 Spaces (25 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Corner Lot
- Signalized Intersection
PROPERTY TAXES
| Parcel Number | 5113-017-014 | Improvements Assessment | $360,000 |
| Land Assessment | $840,000 | Total Assessment | $1,200,000 |
PROPERTY TAXES
Parcel Number
5113-017-014
Land Assessment
$840,000
Improvements Assessment
$360,000
Total Assessment
$1,200,000
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