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2148 E Street, La Verne, California 91750, La Verne, 91750 - 20 bed, 5 bath

2148 E Street, La Verne, California 91750 home-pic-0
ACTIVE$2,499,888
2148 E Street, La Verne, California 91750
20Beds
5Baths
5,480Sqft
6,474Lot
Year Built
1921
Close
-
List price
$2.5M
Original List price
$8.89M
Price/Sqft
$456
HOA
-
Days on market
-
Sold On
-
MLS number
CV25072992
Home ConditionPoor
Features
ViewNeighborhood

About this home

We found 3 Cons,6 Pros.

Prime Investment Opportunity in Downtown La Verne Discover an unparalleled investment prospect at 2148 E Street, La Verne, CA. This distinctive 20-unit building, formerly serving as the University of La Verne's sorority house, is situated on a rare 5,300 sq ft parcel in the heart of downtown La Verne. Its strategic location offers seamless access to the University of La Verne, the forthcoming Gold Line train station, and the LA County Fairgrounds. Unique Versatile Zoning for Diverse Ventures The property's rare Commercial-Professional Mixed Development (C-P-D) zoning allows for a multitude of business opportunities. Potential uses include: Boutique Luxury Hotel: Capitalize on the proximity to local attractions and the university to cater to visitors seeking upscale accommodations. Senior Retirement Facility: Develop a comfortable and convenient residence for seniors, benefiting from the area's amenities and community atmosphere. Student Housing: Provide much-needed housing solutions for the growing student population of the nearby university. Mixed-Use Development: Design a combination of residential units above and commercial spaces below, such as retail shops, offices, or restaurants, to create a vibrant live/work environment. Key Features Prime Location: Situated on bustling E Street, the property enjoys high visibility and foot traffic, ideal for businesses aiming to thrive in a dynamic setting. Zoning Flexibility: The C-P-D Commerical, professional, mixed use zoning permits a variety of uses, including retail stores, professional offices, restaurants with outdoor seating, and more. Development Potential: The site is approved for substantial development, offering a blank canvas for innovative projects. Excellent Accessibility: Within walking distance to the upcoming Gold Line train station, enhancing connectivity for residents and visitors alike. Vibrant Community: Downtown La Verne is renowned for its charming shops, diverse dining options, and regular community events, fostering a welcoming environment for businesses and residents. Seize This Unique Opportunity and let your imagination run wild. Whether you're looking to expand your investment portfolio or embark on a new entrepreneurial venture, 2148 E Street offers limitless potential in a thriving locale. Don't miss this once-in-a-lifetime chance to develop a property with such versatility and promise in the heart of La Verne.

Nearby schools

9/10
J. Marion Roynon Elementary School
Public,•K-5•0.4mi
8/10
Ramona Middle School
Public,•6-8•1.6mi
9/10
Bonita High School
Public,•9-12•0.6mi
Condition Rating
Poor
Built in 1921, this property is over 100 years old and explicitly described as requiring 'Extensive Renovation & Conversion.' The images reveal an older, institutional-style building with worn carpets and basic, outdated light fixtures in common areas. While no images of kitchens or bathrooms are provided, the property's age, former use as a sorority house, and the stated need for 'modernization' and 'structural updates' strongly indicate these areas are severely outdated and require complete overhaul. It is marketed as a development opportunity, not a move-in ready property, confirming its current poor condition.
Pros & Cons

Pros

Great Schools: Elementary School: J. Marion Roynon Elementary School (9/10). High School: Bonita High School (9/10).
Prime Downtown Location: Situated in the heart of downtown La Verne on bustling E Street, the property benefits from high visibility, foot traffic, and proximity to local amenities.
Exceptional Zoning Flexibility: The rare Commercial-Professional Mixed Development (C-P-D) zoning allows for a diverse range of high-value uses, including boutique hotel, senior living, student housing, and mixed-use development.
Significant Development Potential: The site is approved for substantial development, offering a blank canvas for innovative projects and catering to various market demands.
Excellent Accessibility & Connectivity: Strategically located with seamless access to the University of La Verne, the forthcoming Gold Line train station, and the LA County Fairgrounds, enhancing future value and tenant appeal.
Vibrant Community & Amenities: Downtown La Verne is known for its charming shops, diverse dining options, and regular community events, fostering an attractive environment for businesses and residents.

Cons

Extensive Renovation & Conversion Required: Built in 1921 and previously a sorority house (20 beds, 5 baths), the property will require significant capital investment for modernization, structural updates, and reconfiguring the specialized layout to suit new commercial or mixed-use ventures.
Potential for High Development Costs: Beyond the purchase price, the scale of necessary renovations and conversions implies a substantial capital outlay, which could impact project feasibility and return on investment for potential developers.
Significant Price Reduction History: The property's list price has seen a substantial reduction from an original $8.88 million to $2.49 million, which may indicate previous market resistance, overvaluation, or underlying challenges in attracting buyers at a higher price point.

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