1785 Vernon AveLos Angeles, CA 90058

Property Details for 1785 Vernon Ave

Year built

1921

Construction

WOOD

Lot size

0.57 AC

Property size (Sq ft)

864 SF

Zone code

LAM2

Property type

Retail properties

Property subtype

Auto shops

APN

5116-022-031

APU

5116022031

Description

This exceptional 0.6-acre industrial development site in Vernon, CA (zip code 90058, 1785 E Vernon Ave), presents a fully entitled, shovel-ready opportunity for a self-storage facility. The site boasts 61,810 square feet of net rentable space, planned for 898 units ranging from 5x4 to 10x30 feet within a four-story climate-controlled building. Located in the heart of the Los Angeles-Long Beach-Orange County MSA, this high-visibility property enjoys a daily traffic count of 37,779 vehicles. Its strategic location offers unparalleled access to key demographics: 2.5 miles from the University of Southern California (49,500 students), 3 miles from Downtown Los Angeles (3.9 million residents), and 9 miles from LAX Airport. The surrounding area demonstrates strong growth potential, with a population of 1,247,698 and an average household income of $79,024 within a 5-mile radius. Furthermore, 66,622 future residential units are under development within a 5-mile radius, ensuring robust future demand. This is a rare opportunity to capitalize on the thriving Los Angeles market, benefiting from a strong economy and a highly competitive job market. A general contractor's guaranteed maximum price (GMP) is already in place.

• CAP approach

  CAP return

  Valuation

  6%

  $367,993

  6.5%

  $339,686

  7%

  $315,422

• Comparable approach

  Method

  Valuation

  Relative Method

  $414,032

  Geo Method

  $414,032

• Alternative Use

  Use

  Valuation

  Residential

  $286,538

  Hospitality

  $262,467

  Educational

  $218,369

  Medical

  $225,879

  Retail

  $339,686

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.0042

Longitude

-118.241

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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