964 E Jefferson Blvd Immeuble residentiel 71 lots 2 044 727 € (28 799 €/Lot) Los Angeles, CA 90011

Discover an unrivaled development opportunity in Los Angeles’ Greater Vernon-Main neighborhood with the fully RTI entitled, 71-unit ED-1 residential development at 964 E Jefferson Boulevard.

This prime development site measures 0.2 acres at the hard corner of Jefferson and Wadsworth Avenue, with plans in place for the creation of a new 29,000-square-foot multifamily project with a rentable area of 25,000 square feet. The five-story property will comprise a mix of studio, one-, and two-bedroom units, ideal for Los Angeles’ current rental landscape. Designed for maximum density and build efficiency, the property has no on-site parking requirements, reducing construction costs and appealing to the area’s transit-oriented renter base. Developers will also benefit from the ability to add two accessory dwelling units (ADUs) following the certificate of occupancy.

964 E Jefferson Boulevard’s prime corner location benefits from robust visibility and accessibility in a thriving commercial and residential hub. More than 10,000 vehicles pass the property each day, empowering a new project with strong recognition from local residents. The site is centrally placed between the 10 and 110 Freeways, ensuring seamless connectivity for commuters across the greater metro area. There are also a number of walkable bus stops providing convenient public transportation solutions. The property sits just off the Central Avenue retail corridor, enhancing tenant appeal with walkable access to quality shopping, dining, and service-based amenities. Just 1.5 miles away, the Fashion District and Downtown Los Angeles provide easy access to a wealth of further world-class opportunities for shopping, dining, recreation, and nightlife.

Situated within the Greater Inglewood Multifamily Submarket, a development at 964 E Jefferson Street will be able to leverage strong fundamentals in the local rental market to facilitate the owner’s leasing strategy. Currently, vacancies in the region sit at just 6%, exemplifying the elevated demand for quality housing units in the area. Across the population of more than 158,000 living within 2 miles of the property, more than 82% currently rent their homes, forming a valuable tenant base for new multifamily projects. Once stabilized, developers will be able to easily offload the property and capture the full value of the project, thanks to the area’s excellent liquidity. There were 152 multifamily sales in the submarket over the past 12 months, with a collective sales volume of over $296 million.

Bring a new dream development to life with this fully RTI entitled multifamily project site at 964 E Jefferson Boulevard. Reach out to Kosha Arabi today to review the plans and realize the full untapped potential of this incredible opportunity.