2122 E St
La Verne, CA 91750
GREAT DEVELOPMENT OPPORTUNITY · Land For Sale
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0.12 AC
INVESTMENT HIGHLIGHTS
- Lot fronts on heavy traffic "E" Street in downtown La Verne
- Metered short term parking lot next door
- Side alley provides visibility and access to full 130' depth of lot
- Close proximity to both La Verne's new rail station and the University of La Verne
- Flexible zoning for 3-story development
PROPERTY FACTS
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Mixed Use |
| Total Lot Size | 0.12 AC |
| Zoning | OTLVSP - Old Town La Verne Specific Plan |
DESCRIPTION
The property is currently in use as a single family rental residence. We envision a complete demolition to create an approximately 5,300 sq ft lot for development under a triple net lease long term ground lease. Lot has adjacent surface parking lot with metered spaces. The lot is approved by city planning for up to 8,000 sq ft 2-level structure that also has 4 parking spaces in back, accessed via alley. Lot front in on E Street, a heavily traveled thoroughfare in downtown La Verne. Its location in on perimeter of University of La Verne (student enrollment approx 6,000). The property is a 2 block walk from La Verne's new light rail station, part of a six station, 12.5 mile eastern expansion of L.A. Metro's A Line. When completed (opening scheduled for December 2024) the rail line will run eastward to Montclair, and westward to Pasadena, downtown Los Angeles, and Long Beach.
PROPERTY TAXES
| Parcel Number | 8377-021-018 | Improvements Assessment | $423,611 |
| Land Assessment | $713,756 | Total Assessment | $1,137,367 |
