PROPERTY DESCRIPTION

We are proud to present for sale a 24,337 SF Development Opportunity on mostly vacant land with ED-1 Potential on an alley near the San Pedro shore. Located in the heart of San Pedro (sandwiched between Rancho Palos Verdes and Long Beach), a new development would rise in old commercial spaces, so no RSO or Ellis to worry about. The property consists of the whole block fronting Pacific Ave. between 21st and 22nd Streets and is zoned C2-1XL-CPIO. The property is mostly vacant land, with a neighborhood bar on the corner that provides income to the owners. After setbacks and Density Bonuses, the buildable floor plate is approximately 24k SF, totaling about 82k SF of possible development. Building comfortably sized units, 165+/- is an achievable goal! Or continue with the Seller's already-entitled 100 unit, 4 story project with live/work spaces, 1,800 SF of ground retail and two levels of subterranean parking or the mixed-income 92 Unit Proposed Project with semi-subterranean parking. The area has lately seen a revitalization that is long in coming. With the highly anticipated West Harbor Project, One San Pedro and ALTA Sea Marine Institute (to name a few), the future of San Pedro is looking bright! This property sits near the beach, near the San Pedro Fish Market, shopping, dining, nightlife and the Ports of Los Angeles and Long Beach! Listing includes four APNs: 7462-030-028, 7462-030-029, 7462-030-030, 7462-030-031.