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1132 S Alvarado St 0.22 Acres of Commercial Land Offered at $1,900,000 in Los Angeles, CA 90006
Investment Highlights
- Apartment Development site well suited for market rate apartments or affordable housing
- Located on main north-south thoroughfare of Alvarado St between Olympic Blvd and Pico Blvd
- Just west of Downtown Los Angeles in the neighborhood known as Pico Union, which is very dense and has seen a lot of development in recent years.
- Currently a parking lot with approximately 30 parking spaces
- Within ½ mile of both the 10 Freeway and 110
Executive Summary
Prime Multifamily Development Opportunity – Pico Union, Los Angeles
Flexible Development Potential (Affordable or Market-Rate)
The site is well-suited for either 100% affordable housing or a mixed-income/market-rate multifamily development, offering optionality to align with investor strategy and prevailing market conditions.
Significant Density Upside via State & Local Incentives
Under California AB2334 and City of Los Angeles ED1 programs, affordable housing developers may achieve uncapped density, along with substantial height and FAR bonuses, enabling maximization of unit yield.
Attractive By-Right Density Bonus for Market-Rate Development
Pursuant to California AB1287, developers can obtain up to a 100% density bonus by-right by designating 30% of base units as affordable.
Compelling Unit Economics
Estimated ~47 units achievable by-right under AB1287 (including 7 affordable units)
Preliminary plans for 59 units, highlighting additional design and entitlement upside
Infill Site with Immediate Development Potential
Currently improved as a parking lot with ~30 spaces, allowing for efficient site preparation and streamlined redevelopment timeline.
High-Visibility Location on Major Thoroughfare
Positioned along Alvarado Street, a primary north-south corridor between Olympic Blvd and Pico Blvd, offering strong accessibility and neighborhood connectivity.
Excellent Regional Connectivity
Located within ½ mile of both the I-10 and I-110 Freeways, providing convenient access to Downtown Los Angeles and the broader metropolitan area.
Strong Urban Submarket with Proven Demand
Situated in Pico Union, immediately west of Downtown Los Angeles, a dense, supply-constrained neighborhood experiencing ongoing multifamily development and revitalization.
Flexible Development Potential (Affordable or Market-Rate)
The site is well-suited for either 100% affordable housing or a mixed-income/market-rate multifamily development, offering optionality to align with investor strategy and prevailing market conditions.
Significant Density Upside via State & Local Incentives
Under California AB2334 and City of Los Angeles ED1 programs, affordable housing developers may achieve uncapped density, along with substantial height and FAR bonuses, enabling maximization of unit yield.
Attractive By-Right Density Bonus for Market-Rate Development
Pursuant to California AB1287, developers can obtain up to a 100% density bonus by-right by designating 30% of base units as affordable.
Compelling Unit Economics
Estimated ~47 units achievable by-right under AB1287 (including 7 affordable units)
Preliminary plans for 59 units, highlighting additional design and entitlement upside
Infill Site with Immediate Development Potential
Currently improved as a parking lot with ~30 spaces, allowing for efficient site preparation and streamlined redevelopment timeline.
High-Visibility Location on Major Thoroughfare
Positioned along Alvarado Street, a primary north-south corridor between Olympic Blvd and Pico Blvd, offering strong accessibility and neighborhood connectivity.
Excellent Regional Connectivity
Located within ½ mile of both the I-10 and I-110 Freeways, providing convenient access to Downtown Los Angeles and the broader metropolitan area.
Strong Urban Submarket with Proven Demand
Situated in Pico Union, immediately west of Downtown Los Angeles, a dense, supply-constrained neighborhood experiencing ongoing multifamily development and revitalization.
Property Facts
| Price | $1,900,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Commercial |
| No. Lots | 1 | Total Lot Size | 0.22 AC |
| Zoning | LAC2 | ||
| Price | $1,900,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Total Lot Size | 0.22 AC |
| Zoning | LAC2 |
1 Lot Available
Lot
| Price | $1,900,000 | Lot Size | 0.22 AC |
| Price Per AC | $8,636,363.64 |
| Price | $1,900,000 |
| Price Per AC | $8,636,363.64 |
| Lot Size | 0.22 AC |
1 1
Very walkable
80/100
Exceptionally drivable
90/100
Exceptional public transit
90/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 5136-019-023 | Improvements Assessment | $0 |
| Land Assessment | $1,019,592 | Total Assessment | $1,019,592 |
Property Taxes
Parcel Number
5136-019-023
Land Assessment
$1,019,592
Improvements Assessment
$0
Total Assessment
$1,019,592
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1132 S Alvarado St
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