2122 E St
1,230 SF Office Building La Verne, CA 91750 $1,625,000 ($1,321/SF)
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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
- Will consider outright sale, Open to a ground lease as well.
EXECUTIVE SUMMARY
Discover a unique investment opportunity with two charming homes situated on a prime 5,300 sq ft parcel in the heart of downtown La Verne, located on the vibrant University of La Verne campus. This property is currently utilized as residential rental. Can be used as an existing duplex with office and retail use.
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.
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 FACTS
Sale Type
Investment or Owner User
Sale Conditions
Property Type
Office
Property Subtype
Building Size
1,230 SF
Building Class
C
Year Built
1926
Price
$1,625,000
Price Per SF
$1,321
Tenancy
Single
Building Height
1 Story
Typical Floor Size
1,230 SF
Building FAR
0.24
Lot Size
0.12 AC
Zoning
OTLVSP - Old Town La Verne Specific Plan. Zoned Mixed Use Zoning.
Parking
4 Spaces (3.25 Spaces per 1,000 SF Leased)
1 of 1
Walk Score®
Very Walkable (83)