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$ 2,900,000
Est. payment | /mo
0.46 Acres Lot
$ 2,900,000
Est. payment | /mo
0.46 Acres Lot
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR25027342
HOA Y/N No
Lot Size 0.455 Acres
Property Description
Affordable Housing Development Opportunity – 101 Units in Compton
2402 E 126th St presents a fully entitled 101-unit affordable housing project in a prime Compton location. The development includes 12 studio units and 89 one-bedroom units within a five-story wood-frame structure designed for efficiency, with no parking requirements, reducing both construction time and costs. Developers may also benefit from higher rental income by leasing to Section 8 tenants.
Ideally located one block north of El Segundo Blvd, between Alameda St and Willowbrook Ave, the site offers convenient freeway access, including the 105 Freeway (1 mile north) and the 110 Freeway (2 miles west). The property is also just minutes from the Earvin "Magic" Johnson Recreation Area, a 104-acre park featuring picnic areas, soccer fields, and fishing lakes.
Compton is undergoing a significant transformation through its Transit-Oriented Development (TOD) Specific Plan, aimed at revitalizing the Compton Transit Station into a vibrant mixed-use district with enhanced public spaces. With ongoing housing expansion and urban improvements, Compton is positioned as an attractive investment opportunity.
The remaining architect and engineer contract costs, approximately $300,000, will be fully paid by the seller, ensuring a smoother development process. Estimated RTI approval: 5 to 8 months.
2402 E 126th St presents a fully entitled 101-unit affordable housing project in a prime Compton location. The development includes 12 studio units and 89 one-bedroom units within a five-story wood-frame structure designed for efficiency, with no parking requirements, reducing both construction time and costs. Developers may also benefit from higher rental income by leasing to Section 8 tenants.
Ideally located one block north of El Segundo Blvd, between Alameda St and Willowbrook Ave, the site offers convenient freeway access, including the 105 Freeway (1 mile north) and the 110 Freeway (2 miles west). The property is also just minutes from the Earvin "Magic" Johnson Recreation Area, a 104-acre park featuring picnic areas, soccer fields, and fishing lakes.
Compton is undergoing a significant transformation through its Transit-Oriented Development (TOD) Specific Plan, aimed at revitalizing the Compton Transit Station into a vibrant mixed-use district with enhanced public spaces. With ongoing housing expansion and urban improvements, Compton is positioned as an attractive investment opportunity.
The remaining architect and engineer contract costs, approximately $300,000, will be fully paid by the seller, ensuring a smoother development process. Estimated RTI approval: 5 to 8 months.
Location
State CA
County Los Angeles
Area 699 - Not Defined
Zoning LCR1YY
Interior
Fireplace No
Exterior
Community Features Park, Sidewalks, Urban
View Y/N No
View None
Building
Water Public
New Construction No
Others
Senior Community No
Tax ID 6154001020
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
Listed by Massi Torabi • Nest Seekers CA Corp. • 818-268-8869
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "