INVESTMENT HIGHLIGHTS (5 Residential Lots)
- Rare 5 residential lots totaling 1.82Acre that’s prime for redevelopment; Priced to Sell at a low price per SF Lot.
- Rare opportunity to acquire close to 2Acre infill lot in a mature and well known market
- 5 Residential Lots: Initial architect drawing – conceptual plans will be included in the sale
- 5 Residential Lots: By law, investors can build up to 16 single family houses before any bonus density.
- 5 Residential Lots: Excellent Sales comparable for SFR with smaller lots in the area: Range of $800,000 to $1,500,000 sales price. Upon project completion, each SFR could be worth $1.5million (Buyer to verify)
- Primary access is from a quiet residential and cul-de-sac street (THELMA AVE).
EXECUTIVE SUMMARY
Growth Investment Group California is proud to offer ±1.82ACRE Residential development lots (5 parcels behind 2408 N Eastern Ave) for sale. Each property can be purchased individually or together as a packaged deal. These properties have been in the same family for more than 11 years and this is the first time they have been offered for sale. The properties are strategically located in El Sereno, bordering Alhambra and a short distance to Downtown Los Angeles.
The properties are strategically located at the border of Alhambra, and adjacent to Hillside Village neighborhood. The location is only several blocks away from Valley Blvd, El Sereno Park & Recreation Center, Ascot Hills Park, and only minutes to Cal State University Los Angeles. The properties enjoy close proximity to Downtown Los Angeles area via Huntington Drive or FWY 10 which is only minutes away. It has good demographics with $101,398 AHH Income within a 1-mile radius.
The 5 residential lots are located right behind the 2 triplexes. It offers a rare and prime opportunity for developers to acquire an infill large development site in a mature area. It has a total of 1.82ACRE (79353 SF) lot size with RD5-1D zoning; gently sloping lot. There is an access street from a quiet and cul-de-sac street (THELMA AVE – use 2357 or 2358 Thelma Ave in Google map).
Seller has initial architect drawing to build a 15 units master plan Single Family Residential – drawings will be included in the sale. The Sales comparable for older homes in the immediate El Sereno area with small lots (older houses with less than 6000SF lot size) in the past 12 months shows a range of sales price between $800,000 to $1,500,000. The 5 lots are priced to sell at only $12/SF lot. Upon completion of the project, each finished SFR could be worth $1.5million (buyer to verify).
LOCATION AMENITIES AND ACCESS
Properties are strategically and centrally located on Eastern Ave, several blocks north of Valley Blvd in Alhambra, and several blocks south of Huntington Drive. It enjoys a quiet atmosphere yet close to Alhambra, El Sereno Park and Recreation Center, Ascot Hills Park, and just minutes away from Cal State University Los Angeles. Commuting to Downtown Los Angeles is a breeze with easy access to FWY 10.
El Sereno, nestled in Northeast Los Angeles, is a vibrant, historic neighborhood known for its rich cultural diversity and strong sense of community. One of the oldest areas in the city, dating back to 1769, it was once home to the Tongva village of Otsungna and later became a hub for Mexican-American and Italian-American families after restrictive covenants were lifted in 1948. The neighborhood offers a dense suburban feel with a mix of modest single-family homes and small apartment buildings, many built between 1940 and 1969, set against scenic hillsides with stunning views of the San Gabriel Mountains and Downtown LA.
El Sereno is cherished for its serene, family-friendly atmosphere, with residents praising its quiet streets, tree-lined neighborhoods, and proximity to nature. Ascot Hills Park and Elephant Hill provide hiking trails and panoramic city views, while the El Sereno Recreation Center and Arroyo Playground offer spaces for sports and community gatherings. The area is well-connected, with easy access to Downtown LA (just 10-20 minutes away), Highland Park, Alhambra, and South Pasadena via freeways or surface streets. Local gems like Elephant Hills Coffee and the weekly night market with trendy eateries add to its charm, blending long-standing businesses with new developments.