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Listed by Steven Jones • Olympia Capital Corporation
$ 1,200,000
Est. payment /mo
New
7232 Cerritos Avenue Stanton, CA 90680
0.5 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW-25118519
Lot Size 0.504 Acres
Property Description
This listing includes both 7232 W Cerritos Avenue and 10531 Lowden Street in Stanton. The total land area for the two contiguous parcels is approximately 21,947 square feet, or .50-acres. According to the OC Tax Assessors office, there are two residential units situated on each lot, for a total of four units. In reality, there are a total of seven existing units on the site, including six currently occupied units and one vacant unit. The current rents are substantially below market and could likely be significantly raised after renovations or at least slightly raised even without any renovations. This offering is a great opportunity for an investor, ADU builder, land speculator, or a developer. There may be redevelopment potential for up to 12 newly constructed units by submitting a development application under California Density Bonus Law. Please do not disturb any of the current tenants, but feel free to reach out to the listing brokerage team with any questions you may have. Priced to sell.
Location
State CA
County Orange
Zoning R
Exterior
Community Features Curbs, Gutters, Sidewalks
View Y/N Yes
View City Lights
Building
Lot Description 11-15 Units/Acre
Sewer Other, Public Sewer