The LAAA Team of Marcus & Millichap is pleased to present 4324 S Vermont Avenue located in Los Angeles, California. The Offering consists of 6,132 square feet of vacant land, zoned C2-1VL-CPIO and is a Tier 3 TOC corner lot with alley access.

The Subject property is being sold with fully approved RTI (Ready-to-Issue) plans to build a 5-story, 16 unit apartment building. All units will be 3 Bedroom and 2 Bathroom, about 940 square feet in size with open layout and washer/dryer hookups. 12 of the 16 units will feature its own private balcony and parking will be on-grade (street level). Approved total building area will be 17,121 square feet with a approved floor area of 15,791 square feet. The approved housing covenant allows 14 units to be rented at market rent and 2 units to be rented at the affordable housing rate.

The sale price includes what the owner spent for the City of Los Angeles to build underground electrical conduits and to install a brand new fire hydrant in front of the property, which amounted to approximately $100,000.

The prior structure was demolished with city approved demolition permits and the sewer line was capped. The Property is surrounded by a newly installed security gate and iron bar.

The Offering is well located within 1 mile of USC and proximate to the LA Coliseum & SoFi Stadium where the 2028 Olympic games will be held. The area is undergoing major revitalization filled with exciting new openings such as the Banc of California Stadium, Museums- including the massive $1 Billion Lucas Museum of Narrative Art. The subject property has easy access to major freeways and is less than 5 miles from downtown LA.

Lastly, we have put together a financial analysis setup sheet for what we expect the value to be when this 16 unit apartment building is finished. Our finished market value estimate is $6,750,000.