6510 Main StLos Angeles, CA 90003

This exceptional Los Angeles property presents a prime redevelopment opportunity. Located at 6510 S Main St, Los Angeles, CA 90003, this 10,400 square foot lot is zoned C2-1VL-CPIO and offers significant potential for multi-family development. The site is completely vacant and leveled, with demolition already completed, eliminating relocation costs and delays. This ED1-eligible site allows for expedited approval of 100% affordable housing projects, potentially yielding 52 units in a five-story building or up to 74 units with a different construction approach (five stories above a two-level concrete structure). No parking is required for a 100% affordable project, resulting in substantial cost savings. Alternatively, readily available permits allow for immediate commencement of a 20-unit market-rate project, with existing plans, reports, and studies available for the buyer's use. This Class B property, offered at $1,595,000 ($21,554.05 per unit), boasts a 6.00% cap rate and presents a compelling investment opportunity priced below appraisal value. Surrounded by successful recent developments, this location offers developers a chance to capitalize on a proven market. The property is a fee simple ownership with APN 6011-001-1063.