Description

Subject to Cancellation of Current Escrow. Rare shovel-ready RTI development opportunity for a 21 unit apartment project on approximately 16,800 sq ft of land across three legally merged lots (approx. 240 ft X 70 ft) on a flat corner site. The property includes Ready-to-issue (RTI) plans, allowing a buyer to step directly into a project that has taken over 5 years of entitlement work-significantly reducing development timeline, carrying costs, and risk. Located within a designated Opportunity Zone, this property offers incredible tax advantages for builders/developers/investors. The site has been fully cleared, legally vacated, and graded flat, with NO affordable housing requirement. A buyer may proceed with the existing multi-family plans or explore alternative development options, including 10 potential fee-simple lot configurations under SB 684. Strategically located within 1 block of Western Avenue and 2 blocks south of Carson Street, close to public transportation, Harbor UVLA Medical Center. Shopping, dining, and schools, and approximately 5.5 miles from Redondo Beach and the pier. RTI has been extended to 8/28/26 by the Los Angeles Building Department.