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- LoopNet Team
6430 S Vermont Ave
Los Angeles, CA 90044
Land For Sale
·
0.17 AC
INVESTMENT HIGHLIGHTS
- 23 Unit Development Site in South Los Angeles to be delivered Shovel Ready :: Located in a Qualified Opportunity Zone
- Strong unit mix of (19) – 1 bed / 1 bath, (3) – Studio / 1 Bath, and (1) – 2 bed / 2 bath units
- (2) – low-income units provided for affordable incentive through TOC density bonus
- Tentative “ready-to-issue” approvals by end of January 2023
- Located in a Qualified Opportunity Zone allowing for huge tax savings upon proper execution of the QOZ program
- Conveniently located near 110 Freeway with access to SoFi Stadium, Downtown Los Angeles, USC, Slauson Super Mall, and Banc of California Stadium
PROPERTY FACTS
| Property Type | Land | Total Lot Size | 0.17 AC |
| Property Subtype | Commercial | No. Stories | 1 |
| Proposed Use | Multifamily | ||
| Zoning | C2 - Commercial | ||
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Multifamily |
| Total Lot Size | 0.17 AC |
| No. Stories | 1 |
| Zoning | C2 - Commercial |
DESCRIPTION
Located on South Vermont Avenue in Los Angeles, California, this development site totals ±7,500 square feet and will be delivered “ready-to-issue” for a 23-unit apartment building. The approved structure calls for (1) on-grade parking structure below (3) residential stories for a total of four above grade stories. Included with the permitted structure are (19) – 1 bed / 1 bath, (3) – Studio / 1 Bath, and (1) – 2 bed / 2 bath units. Through the development process, ownership utilized the TOC density bonus which calls for (2) – low-income units. The remainder units are earmarked for market rate apartments. The site is a great shelter through the Qualified Opportunity Zone program to offset potential capital gains through the proper utilization of the program. Furthermore, the future apartment building site is located on Vermont Avenue, just South of Gage Avenue with easy access to 110 Freeway, SoFi Stadium, Downtown Los Angeles, University of Southern California, Slauson Super Mall, and Banc of California Stadium
PROPERTY TAXES
| Parcel Number | 6013-013-017 | Improvements Assessment | $0 |
| Land Assessment | $1,305,600 | Total Assessment | $1,305,600 |
PROPERTY TAXES
