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Multi-Family

2172 W Florence Ave

2172 W Florence Ave, Los Angeles, CA 90047

Listing Price: $2,500,000

Lot Size
0.31 acres
Price/Acre
$7,961,690
Land Type
Redevelopment

Investment Overview

Marcus & Millichap is pleased to present 2172 W Florence Avenue, a triple lot development opportunity consisting of 13,678 square feet of land zoned C2-1VL allowing for up to 5 stories totaling 56 units. 216-2172 W Florence Ave is an exciting triple lot development site close to Sofi Stadium that offers an affordable housing developer the opportunity to purchase a site with preliminary plans for 56 affordable units on an attractive corner lot in a prime development location. With four levels of residential apartments above a street-level floor filled with community spaces and services, these apartments create a well-managed and comforable home for the residents transitioning off of the streets. The units are a mix of studio and one-bedroom apartments. There is an on-site manager’s unit, as well. Utilizing an interior courtyard and exterior corridors, the apartments are able to have light and ventilation on boht sides. The living spaces of the units are on the interior courtyard side, to assist the residents to be connected with the community activities and neighbors, and not be isolated in their apartments. The units also feature private balconies, which are sized to be private or shared balconies. The community floor features a multi-use community space for gatherings of all types, a fitness room, a laundry room that is actively utilized as a community-building feature, a lounge at the mailboxes and a pantry. There are three offices and a meeting room for the management and resident services. Parking is not required by the allowed zoning incentives; however, twelve stalls are provided for staff and guests. A significant amount of open space is provided through a series of cascading roof decks. The stepping down of the south elevation, where the open space occurs, allows for two benefits: a separation of various outdoor programs and greater light and ventilation into the interior courtyard. These various roof decks will be filled with BBQ and dining areas, vegetable gardens, chess tables, and plenty of nooks of sitting with a neighbor to drink a cup of coffee. Additionally, a ‘fitness path’ has been provided on the roof. This path will feature signage to encourage the residents to walk, stretch, and do other simple exercises (all with phenomenal views of Downtown Los Angeles, the mountains to the north, and Palos Verdes to the south.

Investment Highlights

  • 2172 W Florence Avenue sits on 13,678 square feet of land zoned C2-1v 2172 W Florence Avenue sits on 13,678 square feet of land zone
  • With approximately 190 feet of frontage along W Florence Avenue the property benefits from excellent access and visibility
  • 2172 W Florence Avenue is located in the Manchester Square neighborhood of South Los Angeles, just 2.4 miles northeast of the brand new Sofi Stadium and Hollywood Park.

Exclusively Listed By

Financing By

Multi-Family

2172 W Florence Ave

Listing Price: $2,500,000

Lot Size
0.31 acres
Price/Acre
$7,961,690
Land Type
Redevelopment

Investment Highlights

  • 2172 W Florence Avenue sits on 13,678 square feet of land zoned C2-1v 2172 W Florence Avenue sits on 13,678 square feet of land zone
  • With approximately 190 feet of frontage along W Florence Avenue the property benefits from excellent access and visibility
  • 2172 W Florence Avenue is located in the Manchester Square neighborhood of South Los Angeles, just 2.4 miles northeast of the brand new Sofi Stadium and Hollywood Park.

Investment Overview

Marcus & Millichap is pleased to present 2172 W Florence Avenue, a triple lot development opportunity consisting of 13,678 square feet of land zoned C2-1VL allowing for up to 5 stories totaling 56 units. 216-2172 W Florence Ave is an exciting triple lot development site close to Sofi Stadium that offers an affordable housing developer the opportunity to purchase a site with preliminary plans for 56 affordable units on an attractive corner lot in a prime development location. With four levels of residential apartments above a street-level floor filled with community spaces and services, these apartments create a well-managed and comforable home for the residents transitioning off of the streets. The units are a mix of studio and one-bedroom apartments. There is an on-site manager’s unit, as well. Utilizing an interior courtyard and exterior corridors, the apartments are able to have light and ventilation on boht sides. The living spaces of the units are on the interior courtyard side, to assist the residents to be connected with the community activities and neighbors, and not be isolated in their apartments. The units also feature private balconies, which are sized to be private or shared balconies. The community floor features a multi-use community space for gatherings of all types, a fitness room, a laundry room that is actively utilized as a community-building feature, a lounge at the mailboxes and a pantry. There are three offices and a meeting room for the management and resident services. Parking is not required by the allowed zoning incentives; however, twelve stalls are provided for staff and guests. A significant amount of open space is provided through a series of cascading roof decks. The stepping down of the south elevation, where the open space occurs, allows for two benefits: a separation of various outdoor programs and greater light and ventilation into the interior courtyard. These various roof decks will be filled with BBQ and dining areas, vegetable gardens, chess tables, and plenty of nooks of sitting with a neighbor to drink a cup of coffee. Additionally, a ‘fitness path’ has been provided on the roof. This path will feature signage to encourage the residents to walk, stretch, and do other simple exercises (all with phenomenal views of Downtown Los Angeles, the mountains to the north, and Palos Verdes to the south.

Exclusively Listed By

Financing By

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