Josh Barut of Lyon | Stahl & Benji Gribnau of the Zacuto Group are pleased to present this excellent Multi Family Re-Development Opportunity at 4926 Elizabeth St, Cudahy, CA. This parcel consists of a huge 20,534 square foot lot and is located in the red-hot Mid-Cities/Southeast LA submarket of Los Angeles County. Currently, the property is operating as (2) 2-bed/1-bath units that are each collecting $1,300/month in rent and is not subject to rent control. That said, the true value in this deal lies in the development upside.
First off, this parcel is zoned CUR3, which represents a High Density Residential Zone (HDR). This designation provides for higher density, multi story residential development and, in other words, more units. Additionally, this parcel is located within an Opportunity Zone. Any re-development opportunity located in a burgeoning rental market with an O-Zone designation is the golden ticket for any savvy, long-term hold investor.
That said, given the positioning of the current units, this offering is suitable for all levels of real estate development. Whether the plan is to keep the existing units and build out the back over time, or wipe the slate clean and paint on a blank canvas, the upside and versatility of the parcel is without question.
In this Southeast LA submarket, the combination of low vacancies, healthy rent growth, below-average prices, and proximity to Downtown has drawn the attention of investors priced out of other parts of LA. These trends continue to hold steady and, with all the new planned developments in the area, there are no signs of the train slowing down.
<strong>Investment Highlights: </strong>
• Huge 20,534 Square Foot Lot
• Zoned CUR3, which represents a High Density Residential Zone
• Available for Multi-Story Residential Development
• Located in an Opportunity Zone
• No Rent Control
• Major appeal to both large & small scale investors due to financial upside and positioning of current units
• Southeast LA/Cudahy sub market’s vacancy rates remain near all-time lows while