448 W 5th St
San Pedro, CA 90731
Shovel Ready 101-Unit in Opportunity Zone · Land For Sale · 0.60 AC

This high density multifamily development opportunity is located in the “Commercial Center” of the San Pedro Community Plan. The zoning and CDO allows for substantial density and floor area bonuses. The property’s +/-26,000 square feet (.60 acre) runs the entire width of the block and boasts frontage on both 4th Street and 5th Street, which is a central location for San Pedro and has been awarded with a “Very Walkable” Score of 85 and “Very Bikeable” score of 76. Nearby parks include John S Gibson Junior Park, San Pedro Plaza Park and Bandini Park. The zoning for the property is C2-1-CDO and [Q]C2-1-CDO and has a Tier Two designation in regard to the newly implemented (TOC) Transit Oriented Communities. San Pedro is currently experiencing a massive revitalization. There has been a recent injection of significant capital into the area from private and public sources. Some of the improvements taking shape currently include the SpaceX Big Falcon Rocket development and manufacturing facility on Terminal Island and the redevelopment of the Ports O’Call Public Marketplace. And the Harbor Blvd. Roadway Improvement Project is expected to be complete in 2018 at a total project cost of $14.8 million, paid by the Port of Los Angeles, including $4.9 million in grant funding from Los Angeles County Metropolitan Transportation Authority (Metro).