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$ 1,835,000
Est. payment | /mo
0.56 Acres Lot
$ 1,835,000
Est. payment | /mo
0.56 Acres Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 26981433
HOA Y/N No
Year Built 1957
Lot Size 0.564 Acres
Property Description
9600-9616 S. Western Avenue is a rare three-parcel corner assemblage totaling approximately 24,551 square feet (0.56 acres) at the prominent southeast corner of S. Western Avenue and W. 96th Street in the heart of South Los Angeles. The existing improvements total approximately +/-4,332 square feet across three purpose-built structures: a licensed preschool campus (+/-2,400 SF), a church sanctuary (+/-1,932 SF) and a +/-620 SF outdoor covered terrace. A vacant land parcel rounds out the assemblage, offering near-term income from commercial uses such as a recycling center or tow yard. Together, the three components project an estimated $15,264 per month in gross income and approximately $146,434 in annual net operating income, supporting the $1,835,000 asking price at a pro forma cap rate of approximately 7.98%. The site is zoned C2-1VL-CPIO and located within a Transit Oriented Communities (TOC) Tier 2 designation, one of the most favorable development overlays in the City of Los Angeles, enabling 98 residential units by right under TOC and over 100 units under Executive Directive 1 (ED1) with no public hearing required. *Buyer to verify The property includes three APN numbers (6055-022-028, 6055-022-029, 6055-022-030).
Location
State CA
County Los Angeles
Area C36 - Metropolitan Southwest
Zoning C2-1VL-CPIO (TOC) Tier 2
Interior
Fireplace No
Building
Lot Description Corner Lot
Story 1
Others
Tax ID UNAVAILABLE
Special Listing Condition Standard
Listed by Nicole Lu Maher Commercial Realty #02045957
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