12347 Carson St, Hawaiian Gardens, CA 90716

Property Description

** PRICE REDUCED - LONG TERM DEVELOPMENT POTENTIAL WITH BELOW MARKET IN-PLACE INCOME  The subject property is a 25,182 SF parcel of land located at 12347 Carson St. in the city of Hawaiian Gardens. This parcel has been recently split off from the property directly to the south which has been developed into an Enterprise Rental Car location. Because of this, the street address for the subject property is on Carson Street even though the site actually fronts Claretta Ave. one parcel to the north of Carson Street. The site is currently leased out on month-to-month basis to a Manufactured Housing construction business who has occupied the property since 2012. This tenant currently pays $3,600 monthly on a gross lease. Please do not disturb the tenant as they do not know the property is for sale. Zoning on this site is C-4 Commercial and the General Plan Land Use Designation is CG General Commercial. Although the site is currently commercially zoned, it is important to note that the city has included this site as an Opportunity Site in the Draft Housing Element and have identified a potential zoning classification of Mixed-Use which would allow for up to 40 residential dwelling units per acre. The subject property is located on the eastern side of Hawaiian Gardens and sits right on the border between Hawaiian Gardens and Lakewood. The property is surrounded by retail to the south, multi-family to the west and lower density residential to the north. Hawaiian Gardens is approximately 99% built out and like most of infill Los Angeles County the development market in this city is extremely supply-restricted. Given the lack of available development sites in the immediate market, this property should be an attractive opportunity for any developer looking for half acre infill sites.