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
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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.
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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)
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Site Description circle The Development SUBJECT SITE Property Aerial N. MARIANNA AVE Parcel Map
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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
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The Development circle Property Aerial MEDFORD ST Parcel Map N. MARIANNA AVE Site Dimensions
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• 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
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• 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
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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
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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
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Approximately 193.81 feet of frontage
N. EASTERN AVE
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20 foot wide alley allowing for ingress and egress of the site. N. EASTERN AVE
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Land Comps NEIGHBORING LOT Rental Units 3,607 SF SUBJECT SITE 12,413 SF Contact N. MARIANNA AVE
N. EASTERN AVE
Potential to assemble additional land by purchasing the neighboring lot (1806 N Eastern). This would bring the total square footage of the four lots to 16,020 SF.
The neighboring lot is a different seller and is not part of this sale. Please discuss further details withBroker.
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SUBJECT SITE 5440 VALLEY BLVD 1140 WESTMINSTER AVE 4556 FLORAL DRIVE SF: 12,413 SF: 12,984 SF: 15,803 SF: 15,516 ZONING: C3 (LA COUNTY) ZONING: C2 (LA CITY) ZONING: ALMPD (ALHAMBRA) ZONING: CM1 (LA COUNTY) LISTING PRICE: $450,000 SOLD PRICE: $1,125,000 SOLD PRICE: $685,000 SOLD PRICE: $805,000 PSF: $36/FT. PSF: $86/FT. PSF: $43/FT. PSF: $51/FT. COE: 12/15/2017 COE: 1/9/2019 COE: 8/6/2018
vvrealtygroup.com Vinco Vinco Realty Group | C3 VACANT LOTS IN UNIVERSITY HILLS 15 Rental Units (1 Bedrooms)
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SUBJECT SITE 4869 NAVARRO STREET 3225 PUEBLO AVE 919 S BENITO AVE SF: 12,413 BD/BA: 1/1 BD/BA: 1/1 BD/BA: 1/1 ZONING: C3 (LA COUNTY) SF: 500 SF: 650 SF: 500 LISTING PRICE: $450,000 PRICE: $1,200 PRICE: $1,450 PRICE: $1,325 PSF: $36/FT. PSF: $2.40 PSF: $2.23 PSF: $2.65 BUILT: 1964 BUILT: 1985 BUILT: 1949
vvrealtygroup.com Vinco Vinco Realty Group | C3 VACANT LOTS IN UNIVERSITY HILLS 16 Rental Units (2 Bedrooms)
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SUBJECT SITE 2420 ENDICOTT STREET 3225 PUEBLO AVE 3559 EL SERENO AVE SF: 12,413 BD/BA: 2/1 BD/BA: 2/1 BD/BA: 2/2 ZONING: C3 (LA COUNTY) SF: 759 SF: 800 SF: 725 LISTING PRICE: $450,000 PRICE: $1,675 PRICE: $1,850 PRICE: $1,800 PSF: $36/FT. PSF: $2.20 PSF: $2.31 PSF: $2.48 BUILT: 1926 BUILT: 1985 BUILT: 1990
vvrealtygroup.com Vinco Vinco Realty Group | C3 VACANT LOTS IN UNIVERSITY HILLS 17 Rental Units (3 Bedrooms)
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SUBJECT SITE 4508 ESMERALDA ST 3821 STOCKBRIDGE AVE 1670 RICARDO ST SF: 12,413 BD/BA: 3/2 BD/BA: 3/2 BD/BA: 3/2 ZONING: C3 (LA COUNTY) SF: 1,215 SF: 1,912 SF: 680 LISTING PRICE: $450,000 PRICE: $3,175 PRICE: $2,999 PRICE: $2,200 PSF: $36/FT. PSF: $2.61 PSF: $2.20 PSF: $3.24 BUILT: 2018 BUILT: 1957 BUILT: 1991
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PRESENTED BY: Our mission is to assist sellers and investors in Chris Martinez, Land Broker achieving their real estate goals by using our local Vinco Vinco Realty Group market knowledge, broker network and negotiating
P: 323-303-3410, ext. 1 skills to obtain positive results for our clients F: 323-303-3410 “Turning Transactions Into Relationships” [email protected]
BRE#: 01917060
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