8802 Central Ave Los Angeles, CA 90002

This exceptional 12,014 square foot corner lot presents a unique investment opportunity in South Los Angeles. Located at 8802 S Central Ave, 90002, this property boasts a C2-1VL-CPIO zoning designation, allowing for diverse development options. The site includes three APNs: 6043-004-014, 6043-004-015, and 6043-004-016, and features a roughly 3,000 square foot existing building in a cold shell condition. A clean Phase II environmental report is available. The asking price is $1,050,000, translating to approximately $87.40 per square foot of land and $22,340 per buildable door. Under the TOC menu, the site is eligible for up to 47 residential units, with a 50% density bonus. Alternatively, the flexible C2 zoning allows for various commercial developments. This prime location is situated at the intersection of S. Central Avenue and 88th Street, a main retail corridor with national and local businesses nearby. The property is also eligible for ED1 as a 100% affordable project, streamlining the entitlement and permitting process. This is a motivated seller, considering all reasonable offers. A lease option is also available at $7,800 per month. The property's strategic location and zoning flexibility make it an ideal investment for developers seeking high-density residential or commercial projects.