8942-8956 Western Ave Los Angeles, CA 90047
- Apartment buildings
- 52,793 SF
- 0.41 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 8942-8956 Western Ave
- Lot size
- 0.41 lot acres
- Property size
- 52,793 SF
- Property type
- Apartment buildings
Description
This exceptional 71-unit apartment building, located at 8942-8956 S Western Ave, Los Angeles, CA 90047, presents a unique investment opportunity. The property boasts 52,793 square feet on a 0.41-acre lot and features five stories with 36 ground-level parking spaces (no subterranean parking). Currently vacant, this property is ideal for owner-users or investors seeking a rehabilitation project. The building is fully approved and ready for immediate development, with all entitlements in place. This is a prime corner location in South Los Angeles, adjacent to the rapidly developing Inglewood submarket. The asking price is $3,500,000, translating to $260.84 per square foot. The property is zoned C2 – 1VL-CPIO. The Assessor's Parcel Numbers (APN) are 6037-026-038, 6037-026-039, and 6037-026-040. Owner-users seeking to occupy 51% or more of the space may qualify for SBA financing with a 10% down payment. This is a rare chance to acquire a fully RTI project in a high-growth area of Los Angeles.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Longitude
- -118.309
- Latitude
- 33.955
