PRICE: $3,500,000

 

A 60-unit development opportunity to build on a signalized corner lot.

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The subject property consists of 3 contiguous parcels, totaling ±13,680 SF of land. With commercial zoning of C1, a developer can potentially build 60 units with TOC Tier 3 incentives, with an FAR of 3.75:1, totaling nearly 51,300 SF of building. With an attractive price per unit of $58,333 per buildable and $68.23 per buildable SF, this boasts a developer the opportunity to build on a large signalized corner lot.

 

2150 Venice Boulevard is in the highly desirable and gentrifying submarket of the Adams District. With major developments in the immediate area, the subject property is also surrounded by national tenants such as U-Haul, Food 4 Less, Dollar Tree, Metro, McDonald’s, El Pollo Loco, Goodwill, Carl’s Jr, and Smart & Final to name a few.