400 N Avenue 19 - 400 Ave 19

Cushman & Wakefield of California, Inc. as exclusive advisor, is pleased to present the opportunity to acquire the fee simple interest in 400 Ave 19 (the “Property”) located in the Lincoln Heights neighborhood, proximate to Downtown Los Angeles, CA. 400 Ave 19 is a land assemblage resulting in one of the largest contiguous development sites in the immediate market area. The property consists of 3.23 acres of development land, with frontage/access on both N Avenue 19 and N San Fernando Road, directly south of where the 110 Freeway meets the I-5. The corresponding street address is 400 N Avenue 19, Los Angeles, CA 90031. The Property is currently improved with 91,857 square feet of low-rise industrial improvements in average condition (+ surface parking), however, the site is well-positioned for redevelopment.
400 Ave 19 is located in the Cornfield Arroyo Seco Specific Plan (CASP), which is currently being updated by the City and was recommended for approval by the City Planning Commission in December 2023. Under the new plan, the Property will be re-zoned
Urban Village-UV (formerly Urban Innovation-UI), which permits a wide range of land uses, and is intended to expand housing
opportunities, among other goals. More specifically, the UV District permits multifamily, various commercial, and many industrial uses
by-right under the Updated CASP, accelerating the entitlement process. The new zoning will carry a base density of 1.5:1 FAR (floor
area ratio), which can be increased up to 4.5:1 FAR via density bonus incentives (affordable housing and/or other community
benefits). Ownership has already obtained preliminary plans for a multifamily development, and a land use memo confirming
compliance with the CASP update.
The Property benefits from a central location in the northern part of Lincoln Heights (just south of Cypress Park), approximately
2.0 miles north of the core of the DTLA submarket. 400 Ave 19 has excellent regional accessibility, less than ¼-mile from the 110
and I-5 Freeways, and less than 2.0 miles from the 101 and I-10 Freeways. The surrounding area is largely residential in nature and has experienced considerable investment and development over the past 10-15 years. Notable land uses in the area include Elysian
Park and the Elysian Reservoir (0.3 miles west), Dodger Stadium (0.7 miles west), Los Angeles State Historic Park (0.7 miles south),
USC Health Sciences Campus (1.3 miles southeast), Flat Top Park (1.0 mile east), and Rio de Los Angeles State Park (1.2 miles north).
400 Ave 19 presents a unique opportunity to acquire a large-scale, multifamily land investment property in a desirable, emerging
residential node between DTLA and the San Gabriel Valley. The Property has high visibility and convenient access to a regional
transportation network proximate to multiple freeways serving Southern California. The underlying zoning and pending update
to the CASP will offer a wide range of development opportunities, many of which are economically feasible given the strength of the
Property’s location. There is a short-term parking lease (through March 2024) on a portion of the Property through March 2024.
Otherwise, the Property is vacant and unencumbered, providing buyers with “carte blanche” to pursue their ideal investment &
development strategy.
400 Ave 19 was historically used for industrial uses and environmental studies conducted by ownership revealed minor contamination. Recent Phase I and Phase II environmental reports, as well as various other studies/surveys/memos, are available to qualified purchasers who execute a confidentiality agreement on the Seller’s form. Submission guidelines for expressions of interest are available at the end of this offering memorandum.