2101 Colorado Blvd
Los Angeles, CA 90041
Retail Property For Sale

Prime redevelopment project in the heart of Eagle Rock. This project benefits from it's Transit-Oriented Community incentive (TOC-Tier 4), allowing for up to 97 units, or 177 affordable housing units. Height restriction is 30'. Current use is a body shop with 26 bays, and 2 spray booths. There are 4 tenants all with month-to-month leases. 60 day notices required. All information to be checked and verified independently.
UPDATE: While TOC is still an available affordable housing program, it is set to sunset at the end of next year. The City has implemented the new Citywide Housing Incentive Program (CHIP) which contains various affordable housing programs including a revised State Density Bonus Program, the Mixed Income Incentive Program (or MIIP, which contains 3 subprograms aimed to revamp and replace TOC), and the AHIP program for 100% affordable Housing projects.
This property Qualifies for the Transit Oriented Incentive Area (Tier 3) program and the Opportunity Corridor Incentive Area program (OC Tier 3), both under MIIP program. The TOIA program under T3 would grant you no limit on density, a base FAR of 4.5:1, and a base height increase of 33'/3 stories. These two programs require a similar percentage of affordable units as the TOC program to qualify for the programs and additional incentives.
The OCIA program under OC3 Tier would also grant you no limit on density, a base FAR of 4.8, and 33' height increase or a total of 7 stories. The program offers the same menu of incentives as the TOIA program.
The site also qualifies for the Density Bonus program which generally grants a base density increase of 50%. The TOC program grants a density increase of 80%. The site would also qualify for the AHIP program if it proposed 100% affordable housing; this program would also grant a project unlimited density and the most generous incentives out of all programs. ALL INFORMATION ABOVE TO BE INDEPENDENTLY CHECKED AND VERIFIED.