Vermont Corridor Transit Oriented Development Opportunity
7500-7522 S Vermont. Los Angeles CA 90044
Executive Summary
Introduction
Pegues Ventures in Partnership with Affordable Housing Solutions of LA & Home Team Properties a Real Estate Brokerage Firm, who’s Principals have significant experience in California MarketPlace. Our team of Experts helps to bring Commercial & Residential Assets to the Marketplace for Investors seeking to invest and develop Commercial & Residential Properties in the LA submarket. Pegues Ventures & Affordable Housing Solutions Platform offers our investors exclusive access to Acquisitions and operational expertise that generates risk- adjusted Returns. Our Operations are managed by experienced time tested professionals with investment experience.
This investment opportunity is located in the emerging South Los Angeles submarket. Land prices in the South LA Submarket are attractive with generous density bonuses, transit incentives and opportunities to develop affordable and mixed income workforce housing for the residents of the Los Angeles Area. South LA and South East LA were recently rezoned by the City Planning and Land use commission to drive density and create transit oriented development standards. South LA is an area with tremendous opportunity for growth. This is an opportunity to develop nearly an acre in South Los Angeles.
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Location & Site Summary:
SITE ADDRESS 7500-7522 S Vermont. Los Angeles CA 90044
This highly sought after contiguous set of land parcels is located 6 miles from Downtown Los Angeles. 11 Miles from LAX Airport. 4.5 Miles from Home to the Los Angeles Rams & Los Angeles Chargers New Stadium slated for completion in July 2020. 4.5 miles away from the Newly remodeled Hollywood Park Casino, part of a 5 Billion revitalization linked to the LA Rams Stadium. Located off the Florence exit off I -110 Freeway. The Front Faces Vermont Avenue between 75th & 76th Street Blocks. There are Five Commercial Corridors: Western, Normandie, Vermont Avenues (north-south), Slauson and Florence avenues (east-[west). South Los Angeles is home to Historical Landmarks such as West Adams District. University of Southern California (oldest Learning Institution on west coast). Area Boasts large faith Communities including Crenshaw Christian Center, Church Of Scientology, arts and culture Centers Like Leimert Park. South Los Angeles is a vibrant area rich with diversity and a history of Community activism.
The 4 Building assemblage has 22368 square foot of existing buildings on 5 Lots(.68 acres). The lots are adjacent to one another which creates a unique opportunity for developers to build a large mixed use commercial-residential building on the lot Area. There is an Optional 2 Lots(.26 acres) available for offer in conjunction with the 5 Lots.
Totaling .94 acres of development potential.
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Lot Assemblage Offering :
Development in this area allows an investor to build as high as a 4 story building for commercial or mixed use development.
The Vermont Slauson Economic Development has produced more than $60 million in Physical Development projects and created/retained more than 3000 jobs in the community. Including a 57000 square foot Vermont Slauson Retail center, a 18000 square foot Western Slauson Business center, a 10,000 square foot Business Enterprise center and the 175000 square foot Vermont Slauson Shopping Center.
South Los Angeles remains an area ripe for entrepreneurial and commercial development and has seen revitalization with initiatives such as the Figueroa Corridor Project. In addition to commercial developments in the Crenshaw District like the Baldwin Hills Crenshaw Plaza. This Asset will be Located within 11 miles to LAX airport and approx 4.5 Miles to the Hollywood Park entertainment District of which the LA stadium will be home to the Los Angeles Rams & Los Angeles Chargers slated to open in July 2020. Excellent opportunity for the purchasing Investor to create what is desired in this developing corridor of Profit. That will revitalize the Community and Keep and create jobs for the Residents that call South Los Angeles Home.
Developmental Standards
Zoning C2-1V-CPIO
TOC TIER 2
HEIGHT 4 STORIES LIMIT 45 FEET
100+ APARTMENT UNITS WITH 5 LOTS
3 POTENTIAL UNIT COUNT 160+ APARTMENT UNITS
Can possibly be developed on all 7 LOTS
City Council District 9 Curren Price
Offering Price
Following Addresses: 7514, 7518, 7522 & 7524 S Vermont a total of 5 lots.
23,241 square feet of contiguous lots. Plus 6440 sq foot. Site address 7500 Vermont.
29,681 sq feet of land.
Asking Price Range $6,000,000 Land Value
There is an option to purchase the additional 2 contiguous lots located at 7510 S Vermont, Los Angeles Ca an additional 11,227 sq feet of land ( lots 2 & 3) to be negotiated separately in conjunction with 5 Lots.
Total Lot Assemblage Sq Ft 11,227 +29681 40908 sq foot .96 acres
Total Purchase Price for all 7 Lots Range $8,268,000
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To review the full offering memorandum or any questions please feel free to call
Presented by:
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