964 E. Jefferson Blvd is an 8,950 SF corner lot zoned C2 with the potential to build 35 units with TOC Tier 1 incentives. Located two miles east of the University of Southern California, existing improvements include a single-story 2,109 SF building that currently operates as a church. According to a development potential report by Brickwork, a developer can develop 11 units by-right or 35 units by taking advantage of Transit Oriented Communities Tier 1 incentives. Please refer to the marketing package for complete details of the development report.
About The Property
Stats
Price $950,000
Year Built 1945
City South LA
Sq. ft. 2,109 SF
Price p/ Sq. ft. $106
Zoning LC2
Background
964 E. Jefferson Blvd was a 8,950 SF corner lot, located 2 miles from USC, that offered the potential to develop up to 35 units. Experiencing a personal emergency, and the sole tenant expected to move, the Seller approached a Compass residential agent for a commercial referral. Having seen KST speak at a local sales meeting, John Cabeso, a Highland Park Compass agent, referred KST to the owner to help her cash out and donate the proceeds.
Result
Despite language barriers, a large amount of deferred maintenance, and development questions, our team generated four offers throughout the listing. Ultimately, the Seller was relieved to select an offer that closed in 60 days at $950,000. This sale marks Max Berger‘s 9th South LA transaction in the previous 15 months, THE MOST IN THAT PERIOD, and our team’s 8th successful Compass referral in the previous 12 months.
