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New Listing – Redevelopment Opportunity on Double Lot

New Listing – Redevelopment Opportunity on Double Lot

Matt Dunfrund of Lyon | Stahl is proud to present 1204-1210 W Florence Ave, a redevelopment opportunity in Los Angeles!


This fantastic redevelopment opportunity is on a large 9,593 Sq Ft double lot zoned commercial C2/R4 in a TOC Tier 2 area for added density bonuses.

Buyer has the option to customize any of the following designs:

1. Recuperative Care Facility: Design plan to build 48 private rooms. 24 shared bathrooms for every 2 rooms. Constructing 20,000 Sq Ft in one new 4-story building with 9 parking spaces required. Pricing starting at $4.9M.

2. Permanent Supportive Housing (PSH): Build up to 48 new studio units utilizing PSH bonus standards. 48 studio apartments (approx. 300 sq ft each) with private kitchens and privates baths. Constructing 20,000 total Sq Ft in two new 4-story buildings with zero parking required. Pricing starting at $6.5M.

3. Transit Oriented Community (TOC Tier 2 Bonus Density): Build 36 new studio units with kitchen and private baths. Constructing 15,000 Sq Ft in two new 3-story buildings with no parking required. 100% low-income housing. Pricing starting at $5.4M.

4. Market Rates Apartments: Build 24 new multifamily units. 18 market rate studios and 6 low-income studios. Constructing 10,000 total rentable Sq. Ft. with 9 parking spaces required. Pricing starts at $4.5M fully-constructed and ready for tenant occupancy and immediate cashflow.

Investment Highlights: 

  • Offering a unique opportunity to purchase a new custom build-to-suit multifamily or mixed-use housing development that will be constructed to meet the buyer’s specific use and needs. Choose from the following approved uses: Market Rate Apartments; Recuperative Care; Permanent Supportive Housing, or Transit Oriented Community (TOC) housing.
  • New construction will be completed using Modular Construction with a leading modular builder saving time and money. Project completion projected for 12-15 months total. Pricing starting at $4.5M fully constructed, and as low as $93,750/unit. Buyers will also have the ability to fully customize these new buildings by adding other elements/features to suit their specific needs.

City Overview: 

The most heavily populated county in the country is Los Angeles County with approximately 9.9 million people, including about 1 million that live in unincorporated areas of the county. Los Angeles County is home to one of the most educated labor pools in the country and offers a labor force of more than 4.7 million, of which more than 1.5 million are college graduates.  According to the United States Conference of Mayors, Los Angeles County boasts a GDP among the twenty largest in the world. Los Angeles County’s continued economic growth, in contrast to other areas of the state and nation, is due to its diversified economy and abundant, well-trained workforce.

Los Angeles County is well located on the Southern Coast of California, and covers 4,061 square miles, including the San Clemente and Santa Catalina islands. The County is comprised of approximately 88 vibrant and diverse cities hosting more than 244,000 business establishments— the greatest concentration in the state. Los Angeles County has a Gross Domestic Product (GDP) of approximately $446 billion – placing it among the top 20 economies in the world. The combined GDP of Los Angeles and its five surrounding neighboring counties places it in the top 10. California is generally considered to be in the top five.

Over the years, Los Angeles County has developed a diverse economic base, supported by a number of Fortune 500 companies with headquarters in the area, including Hilton Hotels, Walt Disney, Occidental Petroleum, DirecTV Group, Northrop Grumman, and many more. Key factors positively impacting the region’s economic position include increased local media production by the entertainment industry and a continuing expansion of import flows. Los Angeles’ well-educated labor pool, many universities, wonderful climate, and world-class infrastructure will enable Greater Los Angeles to continue to be a world leader in economic and cultural significance.

 

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