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Description

*CALL FOR OFFERS* || Kidder Mathews is pleased to present 1725 E Florence Avenue, a vacant multifamily development site situated in the unincorporated community of Florence-Graham in South Los Angeles, governed by Los Angeles County rather than the City of Los Angeles. The site is currently vacant and ready for development, positioned within a community that Los Angeles County has actively prioritized for housing production through its Housing Element and Metro Area Plan, reflecting a supportive regulatory environment for new multifamily development. || The property sits directly adjacent to the Metro A Line Florence Station, one of the original light rail stations on the A Line connecting Downtown Los Angeles to Long Beach. The Florence corridor has attracted meaningful transit-oriented investment in recent years, with multiple affordable and mixed-income housing developments underway in close proximity, reflecting growing institutional and public sector confidence in the submarket. Florence-Graham is one of the densest communities in Los Angeles County, home to over 60,000 residents across just 3.5 square miles, underscoring the depth of housing demand in the immediate area. || *As an unincorporated LA County site, the project falls outside the City of Los Angeles, meaning Measure ULA does not apply and new construction is exempt from the County's Rent Stabilization Ordinance, providing full flexibility on rents at delivery and through lease-up.* || The site has received RTI approval for a 135-unit multifamily development inclusive of a leasing office, with no minimum parking requirement, meaning all discretionary entitlement hurdles have been cleared and a developer can proceed directly to permit issuance and construction. This eliminates the entitlement timeline that commonly adds significant time and cost to a development project in Los Angeles. The property falls within the Florence-Firestone Transit Oriented District Specific Plan, a framework adopted by the LA County Board of Supervisors in 2023 specifically to encourage multifamily and mixed- use development within a half-mile radius of the A Line's Florence, Slauson, and Firestone stations. The site also sits within the Metro Area Plan coverage area, LA County's long-range planning document adopted in 2024 that streamlines land use regulations across seven unincorporated communities to support housing production and transit-oriented growth. The combination of a clear entitlement path, transit adjacency, and a supportive planning framework makes this a compelling opportunity for a developer ready to execute.

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Market Activity 90001

MLS#: 26102603
Listed By: Scott Rosenberg -
Kidder Mathews of California, Inc. - 3108070880-