$2,900,000
Est. payment /mo
Active
2402 E 126th Compton, CA 90222
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Key Details
Property Type Vacant Land
Sub Type Lots/Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR25027342
Property Sub-Type Lots/Land
Property Description
Affordable Housing Development Opportunity 101 Units in Compton 2402 E 126th St presents a 101-unit affordable housing project in a prime Compton location. The development includes 12 studio units and 89 one-bedroom units within a five-story wood-frame structure designed for efficiency, with no parking requirements, reducing both construction time and costs. Developers may also benefit from higher rental income by leasing to Section 8 tenants. Ideally located one block north of El Segundo Blvd, between Alameda St and Willowbrook Ave, the site offers convenient freeway access, including the 105 Freeway (1 mile north) and the 110 Freeway (2 miles west). The property is also just minutes from the Earvin "Magic" Johnson Recreation Area, a 104-acre park featuring picnic areas, soccer fields, and fishing lakes. Compton is undergoing a significant transformation through its Transit-Oriented Development (TOD) Specific Plan, aimed at revitalizing the Compton Transit Station into a vibrant mixed-use district with enhanced public spaces. With ongoing housing expansion and urban improvements, Compton is positioned as an attractive investment opportunity. The remaining architect and engineer contract costs, approximately $300,000, will be fully paid by the seller, ensuring a smoother development process. Estimated RTI approval: 5 to 8 months.
Location
State CA
County Los Angeles
Direction Take I-105 East, exit at Central Avenue, head north for about 2 miles, turn right onto E 126th Street, and the destination will
Interior
Fireplace No
Exterior
View Y/N No
Others
Tax ID 6154001020
Listed by Massi Torabi Nest Seekers CA Corp.