Homes for sale - 10950 S Main ST, Los Angeles, CA 90061

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Randy Plaice

randy@randyplaice.com +1(818) 294-0414

$ 549,000

Est. payment | -/mo

7,026 Sqft Lot

Save

$ 549,000

Est. payment | -/mo

Save

7,026 Sqft Lot

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

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(818) 294-0414

randy@randyplaice.com

25101 The Old Road Suite 240, Ranch, Ca, 91381, United States

10950 S Main ST Los Angeles, CA 90061