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C3 Vacant Lots in University Hills

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C3 Vacant Lots in University Hills C3 Vacant Lots in University Hills El Sereno, CA 90032 Downtown Los Angeles (Driving Address: 1800 N Eastern Ave.) SUBJECT SITE • Three adjacent C3 vacant lots in University Hills (El Sereno, CA) totaling 12,413 square feet • Potential to develop 14 “by-right” units in a mixed-use project with ground level retail/office (uses required) • Potential to develop 100% residential units with CUP (Conditional Use Permit) required – 4 units permitted only • 193 feet of unobstructed street frontage allowing for excellent visibility • Walking distance to California State University of Los Angeles (CSULA) and the CSULA Metrolink stop • Located just below the prestigious University Hills community • Seller carry-back financing option available Listing Price: $450,000 P 323-303-3410 | F 323-952-5004 | vvrealtygroup.com Disclaimer Notice The information contained herein has been prepared as a preliminary set of information. No representation is made as to the legal validity or accuracy expressed or implied in this brochure. The information has been obtained by sources we believe to be true and this information is submitted subject to errors, omissions, changes or withdrawals without notice. All parties receiving this information must not rely on the accuracy of this information and must take appropriate independent measures to confirm the accuracy of the information contained herein during a due diligence review of records, files and documents that constitute reliable sources of information. P 323-303-3410 | F 323-952-5004 | vvrealtygroup.com circle Location Site Description Alhambra Map-pin The Development 5.3 mi. Property Aerial Parcel Map Dodgers Stadium Map-pin 6.5 mi. Site Dimensions SUBJECT SITE Assemblage LA+USC Medical Center Land Comps Map-pin 2.3 mi. Rental Units Contact Downtown Los Angeles 5 mi. Location El Sereno is a neighborhood in the city of Los Angeles in the Eastside region of Los Angeles County. It contains Hillside Village and University Hills. The neighboring communities are Alhambra, Boyle Heights, East Los Angeles, Lincoln Heights, Montecito Heights, Monterey Park and South Pasadena. (Source: Los Angeles Times) vvrealtygroup.com Vinco Vinco Realty Group | C3 VACANT LOTS IN UNIVERSITY HILLS 3 Alhambra Map-pin 5.3 mi. Dodgers Stadium Map-pin 6.5 mi. Cal State LA Location SUBJECT SITE Map-pin 0.7 mi. circle Site Description LA+USC Medical Center Map-pin The Development 2.3 mi. Property Aerial Downtown Los Angeles Parcel Map 5 mi. Site Dimensions Assemblage Land Comps Rental Units Site Description Contact We are proud to present the University Hills vacant ADDRESS DIMENSION lots located in one of the most rapidly changing None Available See Parcel Map (For mapping purposes only: neighborhoods in the City of Los Angeles – El Sereno, CA. 1800 N. Eastern Ave) TYPE The lot is located 0.7 miles from CSULA (California State Vacant Lots APNs University of Los Angeles) and Cal State LA Metrolink 5223-012-032 TOPOGRAPHY station. The site has excellent street frontage for future 5223-012-033 Upslope (Hillside Management retail uses and unobstructed views of DTLA, enticing 5223-012-034 Ordinance) future tenants. TOTAL LAND SF PLANNING JURISDICTION 12,413 LA County Regional Planning The property is within 2.3 miles of Los Angeles County ZONING PRICE Hospital and USC Keck Medical Center. Downtown Los C3 Unlimited Commercial $450,000 Angeles is 5 miles and Dodger Stadium is 6.5 miles away (LA County Zoning Code) from the site. Accessibility to the 10 and 710 Freeways are LAND USES minutes from the site. Low Medium Density (LMD) vvrealtygroup.com Vinco Vinco Realty Group | C3 VACANT LOTS IN UNIVERSITY HILLS 4 Location Site Description circle The Development SUBJECT SITE Property Aerial N. MARIANNA AVE Parcel Map Site Dimensions Assemblage Land Comps Rental Units N. EASTERN AVE Contact MEDFORD ST The Development Opportunity The subject site is zoned C3 within the LA Regional Planning Zoning Code, allowing for 14 units “by-right” with a mixed-use component at ground level (retail or office required). If developed as a 100% residential project, it would allow for four (4) residential units only. Bonus densities can be obtained using the LA County Density Bonus incentive program with up to 35% increase in units with a set aside percentage of low-income units. The property is vacant and there’s an opportunity to acquire additional parcels surrounding the site. The seller is willing to accept carry-back financing as an option. Please contact agent for further details. vvrealtygroup.com Vinco Vinco Realty Group | C3 VACANT LOTS IN UNIVERSITY HILLS 5 The Development Opportunity (cont.) Zone C-3: General Commercial Mixed use projects allow for 50 dwelling Location units per acre: Permitted Uses: • 1 unit : 871.2 Sq. Ft. • Zone C-2 uses, secondhand stores (22.20.030.C) Site Description • 14 units “by-right” allowed Minimum Required Area: • Retail or Office required on ground circle The Development • No minimum required area. But see 21.24.240 of L.A. County Code - Subdivisions floor Property Aerial Maximum Height Limit: If 100% residential the density is • 13 times buildable area (22.20.040.B, 22.110.060), except as otherwise provided in Parcel Map downgraded to 17 dwelling units per acre. community standards district Conditional Use Permit (CUP) will be Site Dimensions required. Minimum Required Parking: Assemblage • General commercial – 1 parking space for each 250 sq. ft. of floor space (22.112.070) • 1 unit: 2,562 Sq. Ft. • Non-medical office uses – 1 parking space for each 400 sq. ft. of floor space. (22.112.070) • 4 units “by-right” allowed Land Comps • Eating/drinking establishments – 1 parking space for each 3 persons, based on occupant • CUP: 6-12 month for approval load determined by Public Works Department (minimum of 10 parking spaces) (22.112.070) Rental Units In both development scenarios: Building Setback: • Density bonuses (1-3 incentives) are Contact • No building setback required available. Please contact Broker for Maximum Lot Coverage: additional information. • 90% of net area of lot (22.20.040) • Hillside Management triggered due • 10% of net area must be landscaped (22.20.040) to the topography of the lot requiring a CUP for grading. Outside Display: • Automobile sales, restaurants, and a few other uses (22.140.420) Outside Storage: • Permitted at the rear of a parcel when incidental to the permitted use existing in the front of the parcel; storage may not be closer than 50 feet to the front lot line and must be completely enclosed by a 5 to 6 foot-high solid fence or wall (22.140.430) What is allowed on a mixed use project? Section § 22.52.1910 of the zoning describes the unacceptable uses. What type of industrial uses are allowed? Section § 22.28.230. B of the zoning code describes the permitted industrial uses. Please contact broker for a list of all uses. vvrealtygroup.com Vinco Vinco Realty Group | C3 VACANT LOTS IN UNIVERSITY HILLS 6 Downtown Los Angeles Location Site Description The Development circle Property Aerial MEDFORD ST Parcel Map N. MARIANNA AVE Site Dimensions Assemblage Land Comps Rental Units Contact N. EASTERN AVE Property Aerial • A new two-story project would have spectacular unobstructed views of Downtown Los Angeles. • 13 +/- minute drive to Downtown Los Angeles View of Downtown LA from top of site. vvrealtygroup.com Vinco Vinco Realty Group | C3 VACANT LOTS IN UNIVERSITY HILLS 7 Cal State LA University 14 min walk Cal State LA Station Location 14 min walk Site Description The Development circle Property Aerial Parcel Map Site Dimensions Assemblage SUBJECT SITE N. EASTERN AVE EASTERN N. Land Comps Rental Units Contact Property Aerial (cont.) • 0.7 miles from Cal State LA or a 14 min walk to the CSULA campus or Metrolink stop • Tucked just below the beautiful University Hills community where home values average $600,000 • Very close proximity to the 710 and 10 Freeways • Area is in high demand for new quality rental housing. vvrealtygroup.com Vinco Vinco Realty Group | C3 VACANT LOTS IN UNIVERSITY HILLS 8 Parcel Map Location Site Description The Development Property Aerial circle Parcel Map Site Dimensions Assemblage Land Comps Rental Units Contact Alley vvrealtygroup.com Vinco Vinco Realty Group | C3 VACANT LOTS IN UNIVERSITY HILLS 9 Parcel Map Location Site Description The Development Property Aerial circle Parcel Map Site Dimensions Assemblage Land Comps Rental Units Contact Alley vvrealtygroup.com Vinco Vinco Realty Group | C3 VACANT LOTS IN UNIVERSITY HILLS 10 Site Dimensions Location Site Description The Development Property Aerial Parcel Map circle Site Dimensions Assemblage Land Comps Rental Units Contact N. MARIANNA AVE SUBJECT SITE Frontage Alley N. EASTERN AVE • Approximately 193.81 feet of street frontage • Excellent street exposure for a future retail/office development • 20 foot wide alley allowing for easy ingress and egress of the subject site vvrealtygroup.com Vinco Vinco Realty Group | C3 VACANT LOTS IN UNIVERSITY HILLS 11 Site Dimensions Location Site Description The Development Property Aerial Billboard lease is month to month. Collecting $60/year. Parcel Map Copy of lease is available upon request for all interested parties. circle Site Dimensions Assemblage Land Comps Rental Units Contact Approximately 193.81 feet of frontage N. EASTERN AVE vvrealtygroup.com Vinco Vinco Realty Group | C3 VACANT LOTS IN UNIVERSITY HILLS 12 Site Dimensions Location Site Description The Development Property Aerial Parcel Map circle Site Dimensions Assemblage Land Comps Rental Units Contact 20 foot wide alley allowing for ingress and egress of the site. N. EASTERN AVE vvrealtygroup.com Vinco Vinco Realty Group | C3 VACANT LOTS IN UNIVERSITY HILLS 13 Assemblage Opportunity Location Site Description The Development Property Aerial Parcel Map Site Dimensions circle Assemblage Land Comps NEIGHBORING LOT Rental Units 3,607 SF SUBJECT SITE 12,413 SF Contact N.
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