21
See all 21 photos
$549,000
Est. payment /mo
7,026 Sqft Lot
Active
10950 S Main ST Los Angeles, CA 90061
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UPDATED:
12/05/2024 07:42 PM
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB24244790
HOA Y/N No
Year Built 1946
Lot Size 7,026 Sqft
Lot Dimensions Assessor
Property Description
Price just reduced! REO. This property has gone back to the lender and must be sold. Great opportunity to redevelop to a large or small multi-family residential project. Previous owner prior to foreclosure said approved for 25 units in his listing, Buyer to independently verify. Seller may be willing to carry with sizeable down payment. Gutted 2,000 sqft building on large 7,020 sqft (45 X 156) street-to-alley corner lot at the SEC corner of Main and E 109th Place. Fantastic redevelopment opportunity located directly in the path of growth and redevelopment. Per LADBS records there's 20 units going up 3 doors north at 10914 S Main Street and 19 units just finished three blocks south at SWC of 112th & Main on a smaller corner lot. Or just build a small handful of units+ADUs like at the corner of E. 110th, probably a lot cheaper and faster to push through the city. Zoned C2, which should allow for R4 uses but Buyer/Buyer's agent to independently verify with all necessary City of LA agencies. See Supplements for ZIMAS reports with aerial, and Generalized Summary of Zoning Regulations, Use and Development Standards for more info. Appears to be in the Southeast LA CPIO District / Subarea C corridor, which may provide Density Bonuses for a higher number of housing units to be built. Best location on Main Street and 2 blocks from 108th St. police station (Southeast Community Station), 1 block from Fire Dept. May have previously been used for retail, a welding shop, and a church. Utilities do not appear operable and Seller will not establish any utility services during its ownership as it is their intent to sell this as a land value deal. Tons of parking with access from both E. 109th Place and the alley. Looks like you could fit 15-20 cars in back. Only access into the building itself is at the rear as its entrance on Main Street was sealed off, making it super secure if someone wants to start a business there in the existing structure. Last sold less than 2 yrs ago for $850k. Seller will also consider leasing, call listing agent for details.
Location
State CA
County Los Angeles
Area C37 - Metropolitan South
Interior
Heating None
Cooling None
Fireplace No
Laundry None
Exterior
Total Parking Spaces 15
Building
Lot Description Corner Lot, Level, Near Public Transit, Rectangular Lot, Street Level, Tear Down, Value In Land, Flat
Story 1
Water Public
Others
Tax ID 6073009012
Acceptable Financing Cash, Owner May Carry
Listing Terms Cash, Owner May Carry
Special Listing Condition Real Estate Owned
Listed by Pierre Valliere • PV Realty • 310-295-2166