8
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$3,500,000
Est. payment /mo
0.62 Acres Lot
Active
20320 Normandie AVE Torrance, CA 90502
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UPDATED:
12/05/2024 02:32 AM
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB24115401
HOA Y/N No
Lot Size 0.616 Acres
Property Description
Nestled amidst the vibrant commercial nexus of Los Angeles County, this expansive parcel of land spanning 26,852 square feet presents a rare and refined opportunity. Situated in proximity to thriving offices, major freeways, and an expansive shopping center, its location embodies prime real estate desirability.
What sets this offering apart is its remarkable potential for Residential Development. With the capacity to erect 31 units of market-rate housing as of right, or ingeniously leverage density bonuses to expand the project to a lavish 47 units, including provisions for affordable housing, the prospects for a lucrative return on investment are undeniable.
Noteworthy are recent exemplars of success in the vicinity, such as the esteemed townhome communities along Western Avenue by Schiappa Homes and in North Torrance on 182nd Street by Lennar. In these developments and surrounding locales like Gardena & Harbor City, discerning buyers have eagerly embraced sophisticated living spaces, driving sales figures well beyond the $800,000 mark.
Furthermore, the predominantly flat terrain of this parcel not only simplifies development logistics but also enhances the allure of investment potential.
For those with a keen eye for opportunity and a penchant for sophisticated ventures, this offering beckons as a beacon of potential prosperity. For further insights into this distinguished opportunity, we invite you to engage with us at your earliest convenience.
What sets this offering apart is its remarkable potential for Residential Development. With the capacity to erect 31 units of market-rate housing as of right, or ingeniously leverage density bonuses to expand the project to a lavish 47 units, including provisions for affordable housing, the prospects for a lucrative return on investment are undeniable.
Noteworthy are recent exemplars of success in the vicinity, such as the esteemed townhome communities along Western Avenue by Schiappa Homes and in North Torrance on 182nd Street by Lennar. In these developments and surrounding locales like Gardena & Harbor City, discerning buyers have eagerly embraced sophisticated living spaces, driving sales figures well beyond the $800,000 mark.
Furthermore, the predominantly flat terrain of this parcel not only simplifies development logistics but also enhances the allure of investment potential.
For those with a keen eye for opportunity and a penchant for sophisticated ventures, this offering beckons as a beacon of potential prosperity. For further insights into this distinguished opportunity, we invite you to engage with us at your earliest convenience.
Location
State CA
County Los Angeles
Area 123 - County Strip
Zoning LCC3*
Interior
Fireplace No
Exterior
Community Features Biking, Park, Street Lights, Sidewalks, Urban
Utilities Available See Remarks
View Y/N Yes
View Neighborhood
Building
Water See Remarks
New Construction No
Others
Senior Community No
Tax ID 7350014053
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Special Listing Condition Standard
Listed by Amie Shepard • West Shores Realty, Inc. • 310-686-4544
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