.69 Acres of Commercial Land Offered at $8,250,000 in San Pedro, CA
|Sale Type||Investment||Proposed Use||Multifamily Apartment Units|
|No. Lots||1||Total Lot Size||0.69 AC|
Rare opportunity to acquire a fully entitled, prime ocean-view development opportunity on Los Angeles’ waterfront immediately surrounded by over $1 Billion of public and private development. Located at 111 North Harbor Boulevard in San Pedro, this exciting opportunity offers an investor the chance to acquire a 0.69-acre lot fully entitled for 120 units, customize existing development plans if desired, and take advantage of the ongoing revitalization of San Pedro. This project is anticipated to be ready to break ground in just six months. Current development plans envision the project as a 129,511-square foot, six-story mixed-use building with two ground-floor retail spaces, two levels of basement parking, and a unit mix of 71 percent two-bedroom units, 18 percent one-bedroom units, and 11 percent studio apartments. Plans utilize zoning bonuses, and 11 of the units are reserved for low-income housing. The property is located in an opportunity zone and may offer significant tax benefits to the developer of this property.