771 E 18th St
Los Angeles, CA 90021
771-777 E 18th St · Specialty Property For Sale · 2,772 SF

CBRE has been selected to exclusively represent 771-777 E 18th St, a unique property in the Fashion District of Downtown Los Angeles featuring 2 single family residential homes (NOT rent-controlled) on industrial land, fully occupied by month-to-month tenants. The two parcels, with APNs 5131-001-024 and 5131-001-026 consist of industrial lots zoned M2 totaling 8,157 SF of land, and 2,772 SF of building. Current rents are below market, with each property generating approximately $2,250 per month gross ($4,500 per month total). This property presents a unique opportunity for investors with foresight, or industrial owner/user developers who have a future use for the land. This property is NOT rent-controlled, meaning the property can be delivered vacant upon close of escrow. This site is within walking distance of a major transit, qualifying it as Tier 3 of the Transit-Oriented Communities (TOC) program by LA City – a new program providing development incentives for affordable housing. This site would make an excellent piece of a future affordable housing development if assembled with adjacent parcels. The TOC Tier 3 designation provides for a “by-right” 70% density bonus, 0.5 parking stalls per unit, and a height increase of 33 feet. Note - a variance would be required to build housing units on the site given the M2 zoning. Highlights: • Price reduced! $180 per SF of land • NOT rent-controlled • Small lot industrial development potential • Fashion district adjacent • Below-market Gross Scheduled Income (GSI) = $54,000 • Within walking distance of a major transit, qualifying it as Tier 3 of the Transit-Oriented Communities (TOC) program by LA City – a new program providing development incentives for affordable housing. • Long-term development potential – TOC Tier 3 provides for a “by-right” 70% density bonus, a parking requirement reduced to 0.5 parking stalls per unit, and a height increase of 33 feet. Note - a variance would be required to build housing units on the site given the M2 zoning. • Easy access to I-10, 110 and 101 Freeways, minutes to I-5