257 E Vernon Avenue, Los Angeles, CA 90011
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Listed Price :
$1,300,000
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Beds :
N/A
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Baths :
-
Property Size :
N/A sqft
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, or to be redeveloped for a build-to-suit quick service restaurant. 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 $126/SF of land, no RSO obligations, no relocation fees, and no Ellis Act requirements, this site is priced to sell. With easy access to the 110 and 10 freeways, future tenants will have an easy commute across the entire Greater LA area. [VISIT PROPERTY WEBSITE HERE: https://www.lamultifamilybroker.com/listings/257-e-vernon-ave-2].
Interior Features
| Bedroom Information |
| Bedrooms |
N/A |
Listing Information
| Address |
257 E Vernon Avenue |
| City |
Los Angeles |
| State |
CA |
| Zip |
90011 |
| County |
Los Angeles |
| Listing Agent |
Jake Glaser DRE #02128816 |
| Courtesy Of |
Lyon Stahl Investment Real Estate, Inc. |
| List Price |
$1,300,000 |
| Status |
Active |
| Type |
Land |
| Structure Size |
N/A |
| Lot Size |
10,305 |
Listing information courtesy of: Jake Glaser, Lyon Stahl Investment Real Estate, Inc.. *Based on information from the Association of REALTORS/Multiple Listing as of Feb 5th, 2025 at 11:58 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
