For more information regarding the value of a property, please contact us for a free consultation.
Key Details
Sold Price $2,800,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SB24009752
Sold Date 06/27/24
HOA Y/N No
Year Built 1947
Lot Size 7,004 Sqft
Property Description
Located at the southwest corner of Crenshaw and 154th Street, straddling the Gardena and Los Angeles boundary, this expansive property comprises three parcels, each uniquely zoned for both residential (R-3) and commercial (C-2) purposes, spanning a total area of 20,817 square feet.
- **Parcel 4070-001-024**: This parcel features two residences, located at 15343 S Eriel Ave and 15338 Eriel Ave in Gardena, CA 90249. Collectively, these homes are valued at approximately $1,740,537.
- **Parcel 4070-001-023**: Currently utilized as a parking and storage space for La Villa Restaurant, this parcel's estimated value stands around $713,000.
- **Parcel 4070-001-022**: A combination of the La Villa Restaurant, situated at 15333 Crenshaw Blvd, Gardena, CA 90249, and a residential property at 15326 S Eriel Ave, Gardena, CA 90249. The combined estimated value of these properties is about $1,753,000.
The collective estimated value of these parcels is approximately $4,206,527. Offered for sale at $3,200,000, this presents an opportunity for the new owner to gain around $1,000,000 in value.
This distinctive property offers the best of both worlds: residential tranquility on the west side within El Camino Village, boasting significant traffic with over 26,539 vehicles per day (VPD) on 154th Street. On the east side, facing Crenshaw Boulevard - a bustling thoroughfare with over 27,865 VPD - the parcels are zoned C-2, suitable for commercial development.
This property's uniqueness lies in its dual zoning, offering flexibility for both residential and commercial use. Additionally, there is potential for further development, with the city permitting up to 20 units on the site. This blend of residential charm and commercial opportunity makes it a rare find in a sought-after location.
Under SBAP - Minimum Density 24 and Maxium Density will allow up to 72 Units
Location
State CA
County Los Angeles
Area 111 - Bodger Park/El Camino
Interior
Fireplace No
Laundry Inside
Building
Lot Description Corner Lot
Story 1
Water Public
Others
Tax ID 4070001022
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash to New Loan
Special Listing Condition Standard
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Bought with Joseph Nuzzolo • Thompson Team Real Estate, Inc.