9600-9616 S. Western Avenue, Los Angeles, CA 90047
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
Property Features:
- List Price: $1,835,000
- Total Building Area: 4,332 Sq.Ft.
- Total Land Area: +/-24,551 Sq.Ft.
- Price Per Sq.Ft. (Land): $74.74
- TOC Development Potential: 98 Units
- ED1 Development Potential: 100+ Units
- Zoning: C2-1VL-CPIO (TOC) Tier 2
- APN: 6055-022-028, 6055-022-029, 6055-022-030
Address
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Address 9600-9616 S. Western Ave, Los Angeles, CA
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Country United States
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Postal code/ZIP 90047
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Contact
Nicole Lu
Property Agent
Fluent in 6 languages, Nicole Lu works with local and international investors on strategic real estate projects and acquisitions. She is a southern California native who returned home after 12 years as a consultant in Asia, Europe, North America and Africa. Recent projects include portfolio analysis for a partnership dissolution (multifamily, hospitality, retail, office, industrial, residential, and land); leasing and acquisitions for a healthcare company's nationwide rollout; and market analysis for an investment firm's California portfolio. Her expertise is the identification and implementation of solutions for her clients. Nicole holds a BA in Spanish from UC Berkeley and an MBA from INSEAD in France and Singapore. She is fluent in Mandarin Chinese, Taiwanese, Spanish, French, and Dutch, and studying Hebrew and German. CA DRE 02045957
Oron Maher
Property Agent
Oron Maher is a leading commercial real estate veteran and the founder of Maher Commercial Realty, a Beverly Hills-based brokerage specializing in investment sales and leasing transactions across all property types within the Greater Los Angeles Area. With nearly two decades of experience representing high-profile buyers and sellers in the region, including major institutions and REITS, private family offices and individual investors, Oron has arranged over a billion dollars in transactions throughout his career and brings a wealth of knowledge, expertise and an unmatched level of client service to the Greater L.A. market. Oron Maher’s firm’s approach includes a customized approach to each opportunity in order to highlight its unique value, leading to record-breaking sales and long-term client relationships. Prior to launching his firm, Oron served as a broker and national sales leader for BRC Advisors. Prior to that, he spent nine years at Coldwell Banker Commercial, where he oversaw a team ranked in the top one percent of commercial brokers in the nation within the Coldwell network. Oron’s extensive experience as a former real estate attorney, investor, developer and community leader has fortified his work in building a successful brokerage in Los Angeles. Oron Maher holds a bachelor’s degree in business management from California State University, Long Beach and a juris doctorate from the San Francisco Law School. Oron’s entrepreneurial approach to Maher Commercial Realty blends his deep knowledge of the industry with a versatile skillset to secure optimal results across the board. An active community member, Oron has served on more than two dozen non-profit and for-profit boards and chaired the real estate section of the Beverly Hills Bar Association. His passion for giving back and empowering young adults and aspiring businesspeople through mentorship, networking and education led Oron to co-create The Maher Foundation, a nine-month fellowship program which provides development opportunities to recent graduates. BRE#01299093