MVP Commercial Investment Real Estate of KW Commercial is pleased to present this Development Opportunity in the Vermont Square neighborhood in Los Angeles located at 4712 and 4716 S Normandie Avenue Los Angeles, CA 90037. The site consists of two parcels (APN # 5017-004-003 and APN # 5017-004-025) that are currently being used as a Car Dealership: there is one structure on the parcels that is approximately 750 Square Feet built in 2001. However; both parcels can be delivered vacant at the close of Escrow or with a Sale Leaseback with the current Tenant to the new Buyer.
Both parcels consist of a total of 11,014 Lot Square Footage zoned C2-1VL with approximately 90 feet of frontage along Normandie Avenue. Also, the Development Opportunity is located in a Tier 2 Transit Oriented Community (TOC) as well as being situated in a Community Plan Implementation Overlay (CPIO) for South Los Angeles. The property could be developed for Retail, Multifamily, or Mixed Use. The site currently has access to the following utilities: Water and Electricity. The property is located just south of the intersection of West Vernon Avenue and South Normandie Avenue. This is a fantastic opportunity to develop in one of Los Angeles’s up and coming communities.
A savvy Developer or Non-Profit Organization could take advantage of these programs in order to increase the number of buildable units through density bonuses at the Development Site as well as look at a 100% Affordable Housing Project which would significantly reduce parking costs. Lastly, the owners have owned the parcels for over 10 years which could also be an extra tax incentive (BUYER TO VERIFY).
