257 E Vernon Avenue Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90011
Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID CL25494889
HOA Y/N No
Lot Size 10,305 Sqft
Acres 0.24
Property Sub-Type Unimproved Land
Property Description
257 E Vernon Ave is a former Church's Chicken restaurant & vacant land development opportunity in a prime South Central location. The 10,305 square foot corner-lot hosts an 800 square foot vacant restaurant space, formerly occupied by Church's Chicken, a national QSR tenant. The all-electric structure was built in 1969 and does not currently have a drive thru component. The tenant's absolute NNN lease expired on Dec 27, 2024, so the lot is now completely vacant. 257 E Vernon is zoned for multifamily use with an LAR3 zoning and Tier 3 TOC designation, and as an ED1 eligible site, it provides the perfect multifamily development opportunity for both market rate, TOC and affordable projects. The site also provides the opportunity to be re-tenanted at market rents with a new restaurant operator. The parcel is a quarter-acre hard signalized corner at the intersection of Vernon & San Pedro, located in a dense infill area with high traffic counts and strong foot traffic. The R3 - TOC 3 zoning allows for +/- 12 residential units by right, up to +/- 26 units utilizing the CHIP (Citywide Housing Incentive Program), or 75+ units via Unlimited Density with an ED1 100% Affordable Project (Buyer to verify). At $111/SF of land, no RSO obligations, no relocation fees, and no Ellis Act requirement
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Fireplace No
Exterior
View Y/N false
View None
Building
New Construction No
Others
Tax ID 5113017014