Building Details

Building Details

  • List Price Subject to Offer
  • Property Type Vacant Land
  • County Los Angeles
  • Lot Size 0.75 Acres
  • Zoning LACW
  • Building Size 32,500 SF
  • Parking Lot Commercial

PROPERTY & LOCATION OVERVIEW

The site comprises of approximately 32,500 SF of commercial zoned land at the corner of 8th Street and Garland Ave. This prime location is adjacent to many of the major developments taking place in Downtown and Westlake, respectively. This prime location can be universally recognized as a dynamic redevelopment opportunity. Centrally located between the 10 and 110 freeways, this location is a gateway to the robust neighborhood it inhabits and the future of Downtown LA


Opportunity to Create a High-density multifamily, hotel, retail or office mixed-use with a Floor Area Ratio (FAR) of 9:1. With nearly 100 development projects, including roughly 20 high-rise residential towers. As a result, Downtown LA's population is expected to quadruple in the next 10 years. High-end hotels, award-winning restaurants, prominent retailers and important technology companies from around the world have all entered the market - all of whom will contribute to Downtown's reemergence as a world-class city center. No other US gateway city offers more growth potential and value appreciation than Downtown Los Angeles.

SALE HIGHLIGHTS

Property #1

• Banquet Hall

Property #2

• Commercial / Stores & Residential property

• Owned with a different owner

• It may have approximately $5k/month income

Property #3

• Commercial / Parking Lot

• About $3k/month income
Property #4

• 37 Unit Building with ground floor retail

• $32,000 Gross Income

• Completely remodeled in 2010 to City Codes

• 13 Units with full Bathrooms

• 24 Units with shared Bathrooms (2Bathrooms/2Showers per floor)

• The market has 6 years remaining on the lease

• The market can vacant early with 6 months notice of vacant and 50,000 Penalty

Demographics

POPULATION 0.5 MILES 1 Mile 1.5 Miles
Total Population 12,351 38,831 76,791
Median Age 32.1 33.8 34.7
Median Age Male 28.0 29.1 30.7
Median Age Female 36.4 38.0 38.1
HOUSEHOLDS
Total households 4,390 13,710 26,878
# of persons per HH 2.8 2.8 2.9
Average HH income $40,322 $45,524 $51,529
Average house value $424,071 $420,605 $425,501

Please use the form below for further information:


We will not send you spam or share your email address.