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Listed by Carol Anne Mills, DRE #01336814 • Keller Williams Realty
$ 1,799,000
Est. payment /mo
Active
15003 Larch Lawndale, CA 90260
0.49 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSB26134259
Year Built 1951
Lot Size 0.485 Acres
Source California Regional MLS
Property Description
New Cap rate of 7.85% and GRM of 10.04 with some rent adjustments in the current layout. Proposed Use: Multi-Family - Prime Development Opportunity in Lawndale- Half-Acre Lot Unlock the potential of this prime half-acre property in the heart of Lawndale, perfectly positioned for redevelopment. Currently configured with 16 studio units (with shared bathrooms/kitchen) and a 1-bedroom home, the property generates a $14,965/ month in income ($179,580 per year), providing immediate cash flow while you plan your next steps. With medium-density residential zoning combined with the AB 1287 density bonus, the site has the potential to accommodate up to 19 residential units, with individual units set aside for affordable housing, delivering a projected income of $531,000 per year or more. Contact me for the Offering Memorandum and Due Diligence Report prepared by Elevated Entitlements.
Location
State CA
County Los Angeles
Area 112 - North Lawndale
Interior
Laundry Other
Exterior
Pool None
Building
Water District - Public
Others
Tax ID 4077022016
Special Listing Condition Not Applicable
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