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22209 S Vermont Ave - 951 W 223rd Street
0.89 Acres of Industrial Land Offered at $3,100,000 in Torrance, CA 90502
Investment Highlights
- M1 zoning in Unincorporated LA County with West Carson Transit Oriented Specific Plan with allows for expansive uses beyond M1
- Front parcel at 951 West 223rd Street features 55 feet street frontage x 290 leading to rear parcel which is 200x115 feet, rectangular shaped
- Location in close proximity to Harbor UCLA 1.7 billion dollar expansion plan due to be completed in 2027 which creates demand for housing
Executive Summary
Owner wants to see offers.
Outstanding two parcel of industrial zoned land ready for redevelopment to higher and better uses. Front parcel has 55 feet visibility on 223rd street, rear parcel has rectangular dimensions of 200x115 feet for many possible future designs. Located 1 block South of UCLA Medical Center and surrounded by many new apartment and townhome developments, this location offers many advantages over other sites.
A neighboring 99-unit 5 story apartment complex indicates a strong demand for housing in this submarket.
The 1.7 billion dollar replacement expansion of Harbor UCLA Medical Center by 2027 one block North is certain to generate demand for housing from health care professionals.
Per Los Angeles County Regional Planning, property is zoned M1, and with the West Carson Transit oriented specific plan allowing for many uses including mixed use development, commercial residential development and multi-family dwelling units the site is not limited to industrial only.
See Table 3:13 on page 72 of the specific plan for permissible uses beyond M1.
Property Facts
| Price | $3,100,000 | Property Type | Land |
| Sale Type | Investment or Owner User | Property Subtype | Industrial |
| Sale Conditions | Redevelopment Project | Proposed Use | Apartment Units |
| No. Lots | 1 | Total Lot Size | 0.89 AC |
| Price | $3,100,000 |
| Sale Type | Investment or Owner User |
| Sale Conditions | Redevelopment Project |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Industrial |
| Proposed Use | Apartment Units |
| Total Lot Size | 0.89 AC |
1 Lot Available
Lot
| Price | $3,100,000 | Lot Size | 0.89 AC |
| Price Per AC | $3,483,146 |
| Price | $3,100,000 |
| Price Per AC | $3,483,146 |
| Lot Size | 0.89 AC |
Two parcels for sale. Parcel 1: 951 W 223rd Street, Torrance, CA. 90502 with street visibility and Parcel 2: 22209 S Vermont Ave, Torrance, CA. 90502. (no street visibility) Unincorporated LA County, Torrance mailing. Zoned M1, WCTOD overlay
Description
This .89 acre two parcel site offers a developer opportunity to build housing for sale or for lease. The strength of this offering is the location, zoning and potential for higher and best use development. The existing structures include a frame and stucco building with restrooms and concrete block construction building on the rear parcel specifically built for kennels. There is a double-wide trailer on the premises for employee use. Please do not walk the property or disturb the tenant. Employees are unaware of the potential sale of the property. Please contact the agent for a video link for a tour of the facility.
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $159,292 | |
| Land Assessment | $564,832 | Total Assessment | $724,124 |
PROPERTY TAXES
zoning
| Zoning Code | LA County M1 (M1, with West Carson TOD, Specific Plan which allows for expansive uses beyond M1.) |
| LA County M1 (M1, with West Carson TOD, Specific Plan which allows for expansive uses beyond M1.) |
-
Arnold Ng -
Apex Commercial Real Estate
Presented by
22209 S Vermont Ave - 951 W 223rd Street
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