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Property Information

• Lot Size: 10,803 sqft

• Zoning: R3 (Residential)

Development Potential

• By Right: 13-unit apartment

• 100% Affordable Project (AB2334): Unlimited density, zero parking requirement

• SB1818 (State Density Bonus): 18 units with 2-3 affordable units (35% increase on “By-Right” units)

Financial Information

• Asking Price: $1,299,000

• Estimated Value After Development: $15,000,000

• Potential Units: Up to 50 units (all affordable income)

Property Description

Seize this exceptional investment opportunity to develop a high-density residential project in the desirable area of Torrance, California. Located at 1611 West 218th Street, this 10,803 sqft R3-zoned lot offers multiple development options, making it a prime candidate for affordable housing projects.

Key Features:

• Prime Location: Situated in a thriving community with easy access to major highways, shopping centers, and public transportation.

• Development Flexibility: Utilize the lot for a 13-unit apartment by right, expand to 18 units with state density bonuses, or maximize the potential with unlimited density for a 100% affordable project under AB2334.

• No Parking Requirement: For 100% affordable projects, eliminating parking requirements significantly reduces development costs.

**Click view all of my company deals underneath my pircture to check out the rest of our inventory!

CALL OR TEXT JOE AT 510-932-2126