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2224 E St

0.12 Acres of Commercial Land Offered at $1,400,000 in La Verne, CA 91750

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Executive Summary

Open to either sale or net net net long term ground lease

Property Facts

Price	$1,400,000	Property Subtype	Commercial
Sale Type	Investment	Proposed Use	Mixed Use
No. Lots	1	Total Lot Size	0.12 AC
Property Type	Land

Price	$1,400,000
Sale Type	Investment
No. Lots	1
Property Type	Land
Property Subtype	Commercial
Proposed Use	Mixed Use
Total Lot Size	0.12 AC

1 Lot Available

Lot

Price	$1,400,000	Lot Size	0.12 AC
Price Per AC	$11,666,667

Price	$1,400,000
Price Per AC	$11,666,667
Lot Size	0.12 AC

Fabulous development opportunity! 5,300 sq ft parcel available for development on high traffic E street in downtown La Verne. Currently in use as residential rental, but zoned for mixed use commercial, and approved for improvement up to 8,000 sq ft.

Description

The property is currently in use as a pair of single family rental residences the front house collects $2,800 per month and the back house collects $2,200 per month. We envision a complete demolition to create a 5,200 sq ft lot for development The lot is approved by city planning for up to 8,000 sq ft 3-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 3 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.

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