5513 Avalon, Los Angeles, CA 90011

Property Description

Entitled yard space almost never comes to market in central Los Angeles. This one has it. 5513 S Avalon Blvd (Not the legal address) is a 4,250 SF fenced and gated lot operating under two City of Los Angeles Certificates of Occupancy, both finaled in 2018, one for the parking of trucks and buses and one for open storage. Anyone who has tried to permit a yard in this basin knows what that is worth. The City has spent the last decade making legal outdoor storage harder to create, not easier, and operators are competing for the sites that already have it. The site is level, usable, fully fenced with gated access and approximately 34 feet of frontage directly on Avalon Blvd, a high traffic commercial arterial. Under a mile to the 110 Freeway, minutes to the Slauson and Vernon industrial districts, roughly four miles south of Downtown Los Angeles. For a fleet, that location means fewer miles on every run, every day, which is the number that shows up on an operator's P&L. The upside is unparalleled in today's market. The same tenant has occupied the entire yard for more than twenty years, month to month, with no written lease, at a rent set long ago that never moved with the market. That is the opportunity. A new owner can raise rent to current market, re-let the yard to a si