Description

We are pleased to present a 100% vacant land development opportunity located at 5710 S Figueroa St, Los Angeles, CA 90037! Zoned for commercial or residential uses and without any existing structures or improvements, no demolishing needs to occur, offering flexibility and a phenomenal project for any buyer. Totaling 5,400 SF of LAC2-1VL-CPIO zoned land with Tier 3 TOC, there's potential for a developer to execute on either a market rate residential development, affordable housing development, or even a contractor who needs yard space for storage. Utilizing TOC incentives, there's potential for a 24-unit market rate development project. As a 100% affordable ED1 development, there's potential for a 28-unit development with no parking requirements with an affordable stick-on grade type construction. Utilizing commercial zoning, potential allowable uses include retail, retail with limited manufacturing, theaters, hotels, broadcasting studios, parking buildings, parks and playgrounds, auto sales, churches, schools and more. Located one block west of the 110 Freeway nearby numerous bus stops and in close proximity to Downtown Los Angeles, the property is well positioned for a developer seeking a well-located property with high rental demands, or for a commercial user needing affordable land to operate their business on. Nearby developments include the installation of the Slauson bike path, which provides significant upgrades for transportation throughout the surrounding community. Buyer shall complete their own due diligence to determine the development potential. Contact the listing broker for additional information.