3043-S La Brea Ave - Ideal, Affordable, House/Mixed Use Site
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3043-S La Brea Ave - Ideal, Affordable, House/Mixed Use Site
0.92 Acres of Commercial Land Offered at $10,995,000 in Los Angeles, CA 90016
Investment Highlights
- Located in an Opportunity Zone (10-Year Tax Incentive).
- Zoned for Mixed-Use with 92,731 SF of floor area approved.
- TOD/TOC/FAR incentives available.
- Reductions in required setbacks.
Executive Summary
ELIGIBLE for ED1, LA's Fast-Track *Affordable Housing* Development Program. CALL AGENT FOR DETAILS! ~ Ideal, Affordable, House/Mixed Use Site. Originally priced at $14M - reduced by 25% by Highly Motivated Seller!! OPPORTUNITY ZONE!!! TIER 3!! HALF BLOCK TO METRO LA BREA STATION!! TOD/TOC/FAR!! ZONED FOR MINIMUM 164 UNITS!! Attention Developers, Builders, and Investors: An exciting, prime Jefferson Corridor development opportunity awaits in a transit-rich West Adams location just one block from the Metro E Line (Expo) which connects Santa Monica to DTLA. COSTCO IS JOINING THE CORRIDOR. There are six parcels in total (C1.5-1VL-CPIO, R3-1). 3043 S. La Brea Avenue is strategically located on the easternmost border of a Qualified Opportunity Zone, potentially allowing an investor to capitalize on economic incentives. This location provides tax advantages for an investor, reducing capital gains by as much as 15% over a seven-year hold period and is fully exempt from capital gains tax if the investment is held for at least 10 years (buyer to verify with a qualified tax professional). Bordered by Culver City, south of LACMA, and northeast of Silicon Beach, the Jefferson Corridor has launched numerous redevelopment projects, establishing the area as a thriving commercial, tech, entertainment, and mixed-use district. The property is surrounded by innovative global market leaders and high-profile projects including Amazon Studios, Costco (upcoming), Warner Media, HBO, Whole Foods, The Grove LA, Cumulus, Exposition Park, Sony Pictures, and the new Apple Campuses.
Property Facts
| Price | $10,995,000 | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 0.92 AC |
| Property Type | Land | Opportunity Zone |
Yes
|
| Price | $10,995,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 0.92 AC |
| Opportunity Zone |
Yes |
1 Lot Available
Lot
| Price | $10,995,000 | Lot Size | 0.92 AC |
| Price Per AC | $12,003,262 |
| Price | $10,995,000 |
| Price Per AC | $12,003,262 |
| Lot Size | 0.92 AC |
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Walk Score ®
Very Walkable (85)
Bike Score ®
Very Bikeable (81)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $269,616 | |
| Land Assessment | $405,288 | Total Assessment | $674,904 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$405,288
Improvements Assessment
$269,616
Total Assessment
$674,904
zoning
| Zoning Code | C1.5-1VL-CPIO & R3-1 (Limited Commercial C1 Uses – Retail, Theaters, Hotels, Broadcasting Studios, Parking Buildings, Parks and Playgrounds, R4 Uses) |
| C1.5-1VL-CPIO & R3-1 (Limited Commercial C1 Uses – Retail, Theaters, Hotels, Broadcasting Studios, Parking Buildings, Parks and Playgrounds, R4 Uses) |
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3043-S La Brea Ave - Ideal, Affordable, House/Mixed Use Site
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