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$ 1,895,000
Est. payment | /mo
8,127 SqFt
$ 1,895,000
Est. payment | /mo
8,127 SqFt
Key Details
Property Type Commercial
Sub Type Comm Ind For Sale
Listing Status Active
Purchase Type For Sale
Square Footage 8,127 sqft
Price per Sqft $233
MLS Listing ID CL26660467
HOA Y/N No
Year Built 1957
Lot Size 0.564 Acres
Acres 0.5636
Property Sub-Type Comm Ind For Sale
Property Description
9600-9616 S. Western Avenue is a rare three-parcel corner assemblage totaling approximately 24,551 square feet (0.56 acres) at the prominent southeast corner of S. Western Avenue and W. 96th Street in the heart of South Los Angeles. The existing improvements total approximately 8,127 square feet across two purpose-built structures: a licensed preschool campus (6,195 SF) and a church sanctuary (1,932 SF). A third vacant land parcel rounds out the assemblage, offering near-term income from commercial uses such as a recycling center or tow yard. Together, the three components project an estimated $15,264 per month in gross income and approximately $146,434 in annual net operating income, supporting the $1,895,000 asking price at a pro forma cap rate of approximately 7.73%. The site is zoned C2-1VL-CPIO and located within a Transit Oriented Communities (TOC) Tier 2 designation, one of the most favorable development overlays in the City of Los Angeles, enabling 98 residential units by right under TOC and over 100 units under Executive Directive 1 (ED1) with no public hearing required. For an owner-user, a licensed preschool operator, faith-based institution, or community education organization, $1,895,000 represents approximately $233 per square foot for 8,127 SF of purpose-built improvements: a fully configured 6,195 SF preschool campus plus a 1,932 SF church sanctuary with fellowship hall, and a vacant land component that can support parking, outdoor programming, or supplemental lease income. Replacement cost for comparable purpose-built preschool and institutional space in Los Angeles routinely exceeds $500 per square foot, making this an acquisition price that simply cannot be replicated through new construction. A qualified operator can assume or transfer the existing CDSS preschool license (buyer to verify) and be operational with minimal capital expenditure. For a private investor, the site offers three independent income streams, the preschool, the church, and the vacant land parcel, with diversified tenant and use profiles that reduce single-tenant concentration risk. The pro forma income supports the asking price at a 7.73% cap rate, while stabilization of all three components reprices the asset toward the 6.4% scenario, representing an estimated $185,000 in embedded value creation. The Western Avenue corridor continues to attract new multifamily and mixed-use investment, and the TOC Tier 2 designation provides a natural developer exit as land values
Location
State CA
County Los Angeles
Zoning C2-1VL-CPI
Interior
Fireplace No
Building
New Construction No
Others
Tax ID 6055022028
© 2026 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Oron Maher • Maher Commercial Realty
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