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Multi-Family

±0.76 Acre Development Site

8825 Calmada Ave., Whittier, CA 90605

Listing Price: $1,900,000

Lot Size
0.76 acres
Price/Acre
$2,501,330
Land Type
Redevelopment

Investment Overview

The subject property is a ±33,088 square foot parcel of land located at 8825 Calmada Avenue in the city of Whittier. The site is improved with a single-story warehouse of 9,064 square foot that was built in 1950. The most recent tenant to lease this property was a local hospital that used the space for document storage but they have vacated and the property is currently vacant at this time. Zoning for this property is defined in the Whittier Blvd Specific Plan and this site has a zoning designation of Center District as described in the Specific Plan. In general, Center District zoning provides opportunities for the redevelopment of vacant and underutilized commercial properties by allowing more compact mixed-use developments. Allowable uses within the Center District include residential uses other than detached SFRs, day care/residential care facilities, and a wide range of commercial and service uses among other various uses. Center District zoning does not allow for any industrial uses. In regard to the General Plan, the Whittier City Council formally adopted the new 2021-2040 Envision Whittier General Plan and 2021-2029 Housing Element on October 12, 2021. The city has forwarded their 2021-2029 Housing Element to the State’s Department of Housing and Community Development (HCD) for finalization which will be pending until the document is certified by HCD. Within this updated Housing Element, the city identifies the subject property in their “RHNA Sites Inventory” with a proposed zone change to MU-1 (with a residential density of between 20-30 dwelling units/acre). Density of 30 du/acre would yield a unit count of 22 units on the subject property, independent of any bonus densities allowed. The subject property is located in southern Whittier one block south of Whittier Blvd. which is a busy commercial arterial through the city. Directly to the north of the subject property is a brand new 5,920 square foot retail center (under construction) and directly to the south of the site is the Whittier Seventh Day Adventist Church. The neighborhood to the south and to the west of the property is composed almost entirely of well maintained, detached single-family homes. As with most of Los Angeles County, the city of Whittier is largely built out and the development market is extremely supply-restricted. With the overall scarcity of available development sites in the Whittier market, this property should be an attractive opportunity for those developers looking to build a small infill residential or mixed-use project in a desirable Los Angeles County location.

Investment Highlights

  • ±0.76 Acre Redevelopment Opportunity in Prime Whittier
  • Site is Located in the Whitter Blvd Specific Plan, Zoning is Center District
  • Site Improvements include a 9,064 square foot Warehouse (Vacant) and a Paved Parking Lot
  • Site is Level with All Utilities on Site
  • Site Width is Approximately 102' with a Depth of 315' to 344'
  • Rare Opportunity to Develop in a Severely Supply-Restricted Market

Exclusively Listed By

Multi-Family

±0.76 Acre Development Site

Listing Price: $1,900,000

Lot Size
0.76 acres
Price/Acre
$2,501,330
Land Type
Redevelopment

Investment Highlights

  • ±0.76 Acre Redevelopment Opportunity in Prime Whittier
  • Site is Located in the Whitter Blvd Specific Plan, Zoning is Center District
  • Site Improvements include a 9,064 square foot Warehouse (Vacant) and a Paved Parking Lot
  • Site is Level with All Utilities on Site
  • Site Width is Approximately 102' with a Depth of 315' to 344'
  • Rare Opportunity to Develop in a Severely Supply-Restricted Market

Investment Overview

The subject property is a ±33,088 square foot parcel of land located at 8825 Calmada Avenue in the city of Whittier. The site is improved with a single-story warehouse of 9,064 square foot that was built in 1950. The most recent tenant to lease this property was a local hospital that used the space for document storage but they have vacated and the property is currently vacant at this time. Zoning for this property is defined in the Whittier Blvd Specific Plan and this site has a zoning designation of Center District as described in the Specific Plan. In general, Center District zoning provides opportunities for the redevelopment of vacant and underutilized commercial properties by allowing more compact mixed-use developments. Allowable uses within the Center District include residential uses other than detached SFRs, day care/residential care facilities, and a wide range of commercial and service uses among other various uses. Center District zoning does not allow for any industrial uses. In regard to the General Plan, the Whittier City Council formally adopted the new 2021-2040 Envision Whittier General Plan and 2021-2029 Housing Element on October 12, 2021. The city has forwarded their 2021-2029 Housing Element to the State’s Department of Housing and Community Development (HCD) for finalization which will be pending until the document is certified by HCD. Within this updated Housing Element, the city identifies the subject property in their “RHNA Sites Inventory” with a proposed zone change to MU-1 (with a residential density of between 20-30 dwelling units/acre). Density of 30 du/acre would yield a unit count of 22 units on the subject property, independent of any bonus densities allowed. The subject property is located in southern Whittier one block south of Whittier Blvd. which is a busy commercial arterial through the city. Directly to the north of the subject property is a brand new 5,920 square foot retail center (under construction) and directly to the south of the site is the Whittier Seventh Day Adventist Church. The neighborhood to the south and to the west of the property is composed almost entirely of well maintained, detached single-family homes. As with most of Los Angeles County, the city of Whittier is largely built out and the development market is extremely supply-restricted. With the overall scarcity of available development sites in the Whittier market, this property should be an attractive opportunity for those developers looking to build a small infill residential or mixed-use project in a desirable Los Angeles County location.

Exclusively Listed By

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