9811 South Vermont Avenue
9811 South Vermont Avenue
$680,000
2
1
896
896
$759
Description
Screaming deal! Income of $3,200 for commercial use of the lot for storage purposes PLUS an additional $2,000 for the lease of a sign at the corner of the lot totaling $62,400 per year! Buy it for its income stream alone or collect income while you entitle it for redevelopment. Almost a 9% cap rate based upon gross income with zero maintenance and management expenses! Great alternative to a rent controlled multi-family residence with all the headaches and expenses that tenants cause. The sign lease...Screaming deal! Income of $3,200 for commercial use of the lot for storage purposes PLUS an additional $2,000 for the lease of a sign at the corner of the lot totaling $62,400 per year! Buy it for its income stream alone or collect income while you entitle it for redevelopment. Almost a 9% cap rate based upon gross income with zero maintenance and management expenses! Great alternative to a rent controlled multi-family residence with all the headaches and expenses that tenants cause. The sign lease is on a month to month basis and can be increased or terminated at any time. Seller states that the sign has been there for years, used by the same lessee, and the lessee desires to continue to lease it if it is offered to the lessee by the buyer. If desired, the sign can be removed by the buyer at any time in the future but it should not obstruct any development should it remain in place based upon it being located at the very corner of the lot. Lease of the lot terminates on June 30, 2024 but the ownership states they believe the tenant would prefer to renew at expiration. No rent control! Great opportunity to own a rare flat level lot zoned C3 for commercial and residential uses. Although sold for land value only, there is an existing vacant home on the site but it is considered to be a teardown. Seller had tentative verbal approval for a 6-unit development allowed by right along with a 24-hour post office box business with a great income potential with very limited competition. See the renderings for the proposed building and business. Architect may be available to be hired to continue with the approval process for the proposed development, if desired. Additional photos of another post office box business are included for visualization purposes. Repurpose the property as desired or use it as-is. With new codes, it should allow for both residential and commercial development with a potential for residential low-income bonus developments and ADU's. Easy to build-out with all utilities in place. Both street access and convenient alley access for more development choices and opportunities. Completely fenced, locked, and secure. Property may also be suitable for multi-family residential, single-family dwelling, commercial and/or residential condominium project in addition to a commercial and residential development by right. The restrictive SB-8 may not apply due to the property being commercial. Property is located in Los Angeles but within a small unincorporated pocket under the jurisdiction of the County of Los Angeles. Check with the County and your architect for all details related thereto. Extraordinary opportunity for a large, scarce, flat, unique, and desirable property along a major thoroughfare. Sold in its present condition and "as is". No warranties of any kind or representations made regarding the property whatsoever. Buyer to conduct their own independent investigations. Standard sale. No court approval necessary. Copies of leases, one now on a month to month basis, are included herein for reference. Because it is being sold for land value only and its income stream, an interior view of the house will only be allowed upon an accepted offer and only if deemed necessary and requested by the buyer because the house is considered to be a teardown. Also, because it is being sold for land value, sign, and its income stream only, drive-by the property at any time and feel free to view it along Vermont and/or the alley at the rear of the property. Also, feel free to view aerial photos readily available on the WWW. Do not disturb occupants. Incredible deal. Make it yours.
Property Details for 9811 South Vermont Avenue
Zoning
LCC3YY
Parcel Number6056018001
Total Units1.0
Living Area896
Source Living AreaVendor Enhanced
AreaMetropolitan Southwest (C36)
Vacancy Rate0
Lot Size Area4800
Location
LISTING UPDATED: 05/16/2024 03:27 PM
Property Details for 9811 South Vermont Avenue
Status | Active |
---|---|
MLS # | 24-387561 |
Days on Market | 33 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1924 |
Lot Size | 0.11 AC / 4,800 SF |
County | Los Angeles County |
Location
Building Information for 9811 South Vermont Avenue
Stories-Residences-Year Built1924Building Size-Lot Size0.11 AC / 4,800 SF
Payment Calculator
$4,219 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 9811 South Vermont Avenue
Property History for 9811 South Vermont Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 9811 South Vermont Avenue
Taxable ValueLand$366,000Additions$91,500Total$457,500
Tax Record2023$6,096 ($508 / month)
Home Facts
Beds2Total Finished SqFt896 SqFtAbove Grade Finished SqFt896 SqFtLot Size4,697 SqFtStyleSingle Family ResidenceYear Built1924ZoningLCC3YYCountyLOS ANGELESAPN6056-018-001
Schools near 9811 South Vermont Avenue
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Charter - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Ninety-Fifth Street Elementary School PublicK to 5 | ||
Bret Harte Preparatory Middle School Public6 to 8 | ||
George Washington Preparatory High School Public9 to 12 | ||
Alliance Judy Ivie Burton Technology Academy High School Charter9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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