The Growth Investment Group is proud to offer Gage Avenue, an attractive development opportunity in the conveniently located city of Bell Gardens, California. The property is 13,680 square feet zoned high density residential, with potential to build up to 5 multifamily units. This opportunity is in a non-rent-controlled area of Los Angeles County, with less than 10 miles from Downtown Los Angeles. The site is surrounded by residential and multifamily residential communities. The area is comprised mostly of blue-collar hard working families with a steep barrier-to-entry, with average sales prices of single family residences being $474,700. Strong demographics with over 41,632 renter occupied housing units and an average household income of $64,165. Buyer to verify all information regarding zoning and check with the city on the ability to complete the desired project, and not rely on the listing broker to guarantee any project. Visit the Planning department or City Uses for Permitted Uses. The property has excellent street frontage, sitting next to Cesar Chavez Elementary School and across from Bell Gardens High School. It provides easy access to the rest of the Greater Los Angeles Area with close proximity to FWY’s 710, 5 60, 605 & 105.
LOCATION AMENITIES AND ACCESS
The property is situated in the conveniently centralized city of Bell Gardens with all its appropriate amenities, suitable dining and shopping. It is a densely populated municipality situated at the convergence of the Los Angeles River and the Rio Hondo Channel. Bell Gardens is regarded as a suburb of Los Angeles. The city is home to a major poker casino and it is part of the Gateway Cities region. The City boasts offering beautiful parks, emerald green soccer fields, childcare centers, a sparkling lake stocked with fish and waterfowl, and a community golf course. Also, while the economy is facing many challenges throughout California, the City of Bell Gardens continues to grow and prosper. The property is situated on Gage Avenue, in between Garfield Avenue and Eastern Avenue. It is across from Bell gardens High and Cesar Chavez Elementary. Excellently situated in a friendly commuter area, The property has superb access to FWY’s 710, 5 & 105. This investment maintains excellent proximity to a variety of nearby amenities such as restaurants, shops, universities, community colleges, hospitals and entertainment venues.
HIGHLIGHTS
• Attractive development opportunity which allows up to 5 buildable multifamily units
• Centrally located in Los Angeles County with easy access to FWY’s 710, 5 60, 605 & 105
• Ideally situated surrounding residential neighborhoods
• Large lot size of ±13,680 SF
• Less than 10 miles from Downtown Los Angeles
• Strong Demographics & rental market with steep barrier-to-entry for homeownership
• Less than 1 mile to The Bicycle Hotel & Casino which employs over 1,250 people
• Nearby to major retailers such as: Starbucks, WaBa Grill, Wingstop, Applebee’s, IHOP, Food 4 Less, Rite Aid, Big 5 Sporting Goods, Ross, Marshalls, Subway, Citibank, Chase, U.S Bank and much more
Zoning: BGR3* (High Density Residential) – Price Per Square Foot: $51.17
Character & Intent
The residential zones are established to provide for residential districts of varying densities for the purposes of family living permitted therein and including the necessary appurtenant and accessory facilities and uses associated with such living areas. The specific intent and purpose of each residential zone is identified
below: (High Density Residential). Established to create multiple-family residential areas of four units or greater per parcel, not to exceed 30 dwelling units per acre. (Ord. 806 § 1, 2007).
Bell Gardens Municipal Code
https://www.bellgardens.org/services/city-services/municipal-code
Strong Demographics
• Average Household Income of $64,165
• 2018 Population Census 253,611 people within 2-mile radius
• Over 41,632 Renter Occupied Housing Units in 2018
• Median Sales Price of 3 Bedroom Single-Family Homes Average $474,700 in last 180-days
• More than 13,275 people in a 2-mile radius with an average Household Income between $50,000 - $74,999
• More than 8,337 people in a 2-mile radius with an average Household Income between $75,000 - $99,999