Kingside Investment Group & Pryme Group and 7223 Walnut Drive is 22,215 square feet (0.51 acres) parcel of land in the unincorporated Florence-Graham neighborhood of South Los Angeles. The property is zoned LAR3* which makes it suitable for residential development and not commercial. With an 100% affordable, or semi-affordable project the savvy developer will be able to take advantage of state and county density bonuses as well.
The seller owns three (3) contiguous parcels which are being offered as a packaged or can be purchased individually. This allows the flexibility of building a larger apartment complex, or something less complex on a smaller piece of land. This particular parcel is 6,764 SF or 0.15 acres.
This particular area is seeing a tremendous amount of building in the affordable sector. AMCAL housing, a premier affordable developer, just completed a 109-unit project at 1600 E. Florence and there are at least another 200+ units in the pipeline in the area.
Due to its proximity to retail centers, employment hubs and entertainment this site will be an ideal site for builders and tenants for years to come.
