40 Unit RTI - Existing Autobody & Spray Booth | 649-701 W Vernon Ave
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40 Unit RTI - Existing Autobody & Spray Booth 649-701 W Vernon Ave
2,451 SF 100% Leased Retail Building Los Angeles, CA 90037 $3,000,000 ($1,224/SF)
Investment Highlights
- 40 Units RTI - 4 Story 100% Affordable Development
- Just South of USC
- Existing Autobody with Spray Booth on 9,619 SF Lot
Executive Summary
PLEASE SEE ATTACHED MARKETING PACKAGE FOR FULL INFORMATION:
PCS Group is pleased to exclusively present for sale a 40 Unit RTI, 4 Story 100% Affordable Housing project at 701 & 649 W VERNON AVE. Currently an existing autobody with spray booth, the offering includes Type V-A Units with 6 units set aside for Low income per Schedule VI, 33 units set aside for low income per Schedule I, and 1 unit reserved as a managers unit.
This offering consists of 9,619 square feet of land, zoned C2,and is well located roughly a mile from USC. This project is 100% privately funded with no tax credits and is not public housing. The proposed project sets aside 100% of units for affordable housing.
PCS Group is pleased to exclusively present for sale a 40 Unit RTI, 4 Story 100% Affordable Housing project at 701 & 649 W VERNON AVE. Currently an existing autobody with spray booth, the offering includes Type V-A Units with 6 units set aside for Low income per Schedule VI, 33 units set aside for low income per Schedule I, and 1 unit reserved as a managers unit.
This offering consists of 9,619 square feet of land, zoned C2,and is well located roughly a mile from USC. This project is 100% privately funded with no tax credits and is not public housing. The proposed project sets aside 100% of units for affordable housing.
Property Facts
Sale Type
Investment or Owner User
Sale Condition
Redevelopment Project
Property Type
Retail
Property Subtype
Auto Repair
Building Size
2,451 SF
Building Class
C
Year Built
1925
Price
$3,000,000
Price Per SF
$1,224
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.51
Lot Size
0.11 AC
Zoning
LAC2 - C2-1VL-CPIO
Frontage
86 FT on Vernon Ave
Walk Score ®
Very Walkable (83)
Bike Score ®
Very Bikeable (80)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 5019-009-030 | Improvements Assessment | $0 |
| Land Assessment | $1,511,640 | Total Assessment | $1,511,640 |
PROPERTY TAXES
Parcel Number
5019-009-030
Land Assessment
$1,511,640
Improvements Assessment
$0
Total Assessment
$1,511,640
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40 Unit RTI - Existing Autobody & Spray Booth | 649-701 W Vernon Ave
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