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2122 E St - GREAT DEVELOPMENT OPPORTUNITY
0.12 - 5,227 Acre Commercial Land Lots Offered at $1,984,458 CAD Per Lot in La Verne, CA 91750
Investment Highlights
- Lot fronts on heavy traffic "E" Street in downtown La Verne
- Metered short term parking lot next door
- Side alley provides visibility and access to full 130' depth of lot
- Close proximity to both La Verne's new rail station and the University of La Verne
- Flexible zoning for 3-story development
Executive Summary
Property Facts
| Price | $1,984,458 CAD | Property Type | Land |
| Sale Type | Investment | Property Subtype | Commercial |
| Sale Conditions | Proposed Use | Mixed Use | |
| No. Lots | 2 | Total Lot Size | 5,227.12 AC |
| Price | $1,984,458 CAD |
| Sale Type | Investment |
| Sale Conditions | |
| No. Lots | 2 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Mixed Use |
| Total Lot Size | 5,227.12 AC |
2 Lots Available
Lot
| Price | $1,984,458 CAD | Lot Size | 0.12 AC |
| Price Per AC | $16,537,839 CAD |
| Price | $1,984,458 CAD |
| Price Per AC | $16,537,839 CAD |
| Lot Size | 0.12 AC |
5,300 sq ft parcel available for development next to GOLD LINE TRAIN STATION, on high traffic E street in downtown La Verne. Currently in use as residential rental, but zoned for mixed use commercial, approved for 8,000 sq ft live workl development.
Lot
| Lot Size | 5,227.00 AC |
| Lot Size | 5,227.00 AC |
This property is approved to build five live work units that can be three stories tall.
Description
The property is currently in use as a single family rental residence. We envision a complete demolition to create an approximately 5,300 sq ft lot for development under a triple net lease long term ground lease. Lot has adjacent surface parking lot with metered spaces. The lot is approved by city planning for up to 8,000 sq ft 2-level structure that also has 4 parking spaces in back, accessed via alley. Lot front in on E Street, a heavily traveled thoroughfare in downtown La Verne. Its location in on perimeter of University of La Verne (student enrollment approx 6,000). The property is a 2 block walk from La Verne's new light rail station, part of a six station, 12.5 mile eastern expansion of L.A. Metro's A Line. When completed (opening scheduled for December 2024) the rail line will run eastward to Montclair, and westward to Pasadena, downtown Los Angeles, and Long Beach.
PROPERTY TAXES
| Parcel Number | 8377-021-018 | Improvements Assessment | $589,747 CAD |
| Land Assessment | $993,684 CAD | Total Assessment | $1,583,431 CAD |
PROPERTY TAXES
zoning
| Zoning Code | OTLVSP (Old Town La Verne Specific Plan) |
| OTLVSP (Old Town La Verne Specific Plan) |
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2122 E St - GREAT DEVELOPMENT OPPORTUNITY
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