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1021-1025 W Florence Ave 0.22 Acres of Commercial Land Offered at $3,428,469 CAD in Los Angeles, CA 90044
Investment Highlights
- Fully entitled 55-unit apartment project delivered RTI.
- Located in a Tier 3 Transit Oriented Community near major transit and freeways.
- Zoning: C2-2D-CPIO, supporting multifamily development.
- 100% affordable housing with no automobile parking required.
- Two parcels totaling ±9,700 square feet with a ±30,341 square foot building area.
- Long-term bicycle parking with 34 spaces included.
Executive Summary
This offering presents a redevelopment opportunity in South Los Angeles, located at 1021-1025 W. Florence Avenue. The project is approved for a five-story, 55-unit apartment building under AB2345 guidelines, delivering 100% affordable housing. The unit mix includes 54 one-bedroom units and one studio, with long-term bicycle parking for 34 spaces. The property spans two parcels totaling approximately 9,700 square feet and will be delivered Ready-To-Issue (RTI), minimizing development timelines.
Situated within a Tier 3 Transit Oriented Community (TOC), the site benefits from proximity to major transportation corridors, including State Route 110 and Interstate 10, as well as Florence Station and Los Angeles Union Station. The zoning designation of C2-2D-CPIO supports multifamily development, and no automobile parking is required under TOC guidelines. This privately funded project is not subject to prevailing wage requirements, offering cost efficiency for developers.
Situated within a Tier 3 Transit Oriented Community (TOC), the site benefits from proximity to major transportation corridors, including State Route 110 and Interstate 10, as well as Florence Station and Los Angeles Union Station. The zoning designation of C2-2D-CPIO supports multifamily development, and no automobile parking is required under TOC guidelines. This privately funded project is not subject to prevailing wage requirements, offering cost efficiency for developers.
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- Offering Memorandum
Property Facts
| Price | $3,428,469 CAD | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | Multifamily |
| No. Lots | 1 | Total Lot Size | 0.22 AC |
| Property Type | Land | ||
| Zoning | C2-2D-CPIO | ||
| Price | $3,428,469 CAD |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Multifamily |
| Total Lot Size | 0.22 AC |
| Zoning | C2-2D-CPIO |
1 Lot Available
Lot
| Price | $3,428,469 CAD | Lot Size | 0.22 AC |
| Price Per AC | $15,396,324.33 CAD |
| Price | $3,428,469 CAD |
| Price Per AC | $15,396,324.33 CAD |
| Lot Size | 0.22 AC |
Moderately walkable
60/100
Exceptionally drivable
100/100
Strong public transit
80/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 CAD | |
| Land Assessment | $2,017,685 CAD | Total Assessment | $2,017,685 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$2,017,685 CAD
Improvements Assessment
$0 CAD
Total Assessment
$2,017,685 CAD
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1021-1025 W Florence Ave
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