±1.82 Acre Development Opportunity

Highlights:

• Potential to build up to +/-145 units By-Right
• Opportunity Zone, allowing for Zero Capital Gains Tax after 10-Yrs
• Tier-1 Projects within the City provide expedited approval
• Located within Transit Oriented Development Zone
• Parking lot leased for $10K p/month expiring in July 2026
• All reasonable offers will be considered

Description:

Lucrum Real Estate Group is pleased to present a unique investment and redevelopment opportunity consisting of four contiguous properties strategically located within the Compton Station Transit-Oriented Development (TOD) Specific Plan, which aims to transform the area surrounding the Metro A Line Compton Station into a vibrant, mixed-use, transit-friendly community.

Together, the 4 lots span nearly an entire city block, extending to the prominent, signalized corner of S. Santa Fe Avenue and Myrrh Street.

Property Breakdown:

+ Eko Multipurpose Center – 403 S. Santa Fe Ave: Approximately 20,001 SF

+ Eko Multipurpose Center – 411 S. Santa Fe Ave: Approximately 30,004 SF

+ KSI Communications – 435 S. Santa Fe Ave: Approximately 9,999 SF

+ KSI Communications – 445 S. Santa Fe Ave: Approximately 19,622 SF

Key Highlights:

+ +/-145 Units By-Right: Per the City of Compton, the location allows for 80 units per acre to be built and even more if density bonuses are applied for.

+ Zero Capital Gains Tax: The property is located within an opportunity zone, and provides developers the ability to avoid some or all of the Capital Gains upon the sale depending on the hold period.

+ Expedited Approval: Per the City of Compton, projects under 80 units only go through an Administrative Review, which allows for faster approval.

+ Transit Oriented Development: Compton’s TOD areas benefit from financial incentives, tax credits, density bonuses, and grants, as well as streamlined approvals.

+ $120,000 in Annual Income: One of the lots is currently leased until July 2026 and the income can assist developers offset the planning costs.

+ Must Sell - Motivated Seller: All reasonable offers will be presented and considered by ownership.

The City of Compton has been actively pursuing transit-oriented development (TOD) plans to revitalize areas adjacent to its Metro stations. Two significant initiatives in this regard are the Artesia Station Specific Plan and the Compton Station Transit-Oriented Development Specific Plan.

Compton Station Transit-Oriented Development Plan: Cover approximately 570 acres around the Compton Station at Willowbrook Avenue and Compton Boulevard, focusing on three key "Downtown" nodes: Civic Center, Commercial Core, and Historic Core/Compton Boulevard East.

The plan envisions transforming the area into a compact, transit-oriented neighborhood with key projections that include:

+ Housing: Approximately 4,803 new residential units

+ Retail Space: Around 219,187 square feet

+ Cultural Facilities: About 129,000 square feet

+ Office Space: Approximately 217,073 square feet

The plan emphasizes improving public spaces, enhancing safety, introducing new open areas, and closing existing gaps in the bicycle and pedestrian networks to promote a pedestrian-friendly environment.

Promoting New Development and Rehabilitation: Encouraging the construction of new buildings and the renovation of existing structures to boost economic activity.

Increasing Transit Ridership: Enhancing accessibility and convenience to encourage more residents to utilize public transit.

Strengthening Local Identity: Creating a unique sense of place that reflects Compton's cultural heritage.

Creating Employment Opportunities: Fostering job creation and career advancement for residents.
Enhancing Pedestrian and Bicycle-Friendly Environments: Developing infrastructure that supports walking and cycling to reduce reliance on automobiles.

Implementation strategies may include establishing a property-based business improvement district, developing affordable housing and business incubation spaces on publicly owned land, and instituting local hire requirements for large projects.

Documents: