1591 E Vernon Ave

Los Angeles CA 90011

5007 sq. ft.

Land

Currently for sale - view listing

Overview

We are proud to exclusively present for sale a Redevelopment Opportunity in South Los Angeles. Situated on E. Vernon Ave., in between Lima St. and Morgan Ave., this 5,007 SF C2-2D-CPIO Tier 4 Lot can be delivered vacant...or keep the incomefrom the existing Duplex while preparing for construction! The Seller's 23 Unit Project was recently issued a TOC Letter of Determination (reserving 3 Units for Extremely Low-Income Households) and has an SB 330 Replacement Unit Determination from 2020 listing that two units need to be replaced. The Project can potentially also have one ADU. The building design consistsof eleven Studios, five 1 Bedrooms, six 2 Bedrooms and one 3 Bedroom units. The Rec. Room on the ground level can potentially be converted to 1 ADU. The design features no parking spaces but the property is around a tenth of a mile from the Vernon Metro A Line (Blue) Station, allowing tenants to commute to Downtown Los Angeles, Downtown Long Beach and beyond with ease. Future residents will enjoy a rooftop that will have expansive views looking far out to the rest of Los Angeles. Affordable Units should be rentable to Section 8 tenants for increased rents; Section 8 rental amounts have increased as of 11/1/2022 (see Section 8 page in OM). The site is a short 10 minute drive to Downtown LA. Easy access to the 10 and 110 freeways makes this property an easy commute around Los Angeles.

Features

5007 sq. ft. lot size

Land

Property history for 1591 E Vernon Ave

2019

Sold

Undisclosed

12 Mar 2019

Happy sellers in Los Angeles

We have insufficient information to provide an overview of customer satisfaction for Los Angeles. Viewing the agent profiles, reviews and sales for Los Angeles can provide insights for this location.