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233 W Washington Blvd - Grand Metropolitan 0.81 Acres of Residential Land Offered at $11,900,000 in Los Angeles, CA 90015
INVESTMENT HIGHLIGHTS
- Located in a Tier 4 TOC zone with potential for 316 units
- No linkage fees and situated in an Opportunity Zone
- Walking distance to USC, Staples Center, and Union Station
- Directly across from Metro Blue Line Grand/LATTC Station
- Surrounded by major developments including SoLa Village
- Strong demographics: 80% college-educated, $99,900 median income
EXECUTIVE SUMMARY
CBRE’s Urban Group presents a rare opportunity to acquire a prime development site at 233 W. Washington Boulevard, located in the heart of Downtown Los Angeles. This 34,927 SF corner parcel offers exceptional visibility and accessibility, directly across from the Metro Blue Line Grand/LATTC Station and adjacent to Los Angeles Trade-Tech College. The site benefits from its strategic location near the I-10 freeway, USC, and the rapidly evolving South LA corridor.
Previously entitled for a mixed-use development featuring 160 residential units and 23,770 SF of retail, the site is zoned (T)(Q)C2-2D O-CPIO and falls within a Tier 4 TOC zone, allowing for increased density and reduced parking requirements. Developers can re-entitle the site for up to 316 units under the TOC ordinance, with no linkage fees required. The parcel is situated in an Opportunity Zone, offering significant tax advantages for long-term investors.
Surrounded by transformative projects like the $1 billion SoLa Village development and within walking distance to cultural landmarks such as Staples Center, Union Station, and the Arts District, this site is ideally positioned to capitalize on Downtown LA’s urban renaissance. With over $21 billion invested in the area since 2005 and a growing population of affluent, educated residents, the demand for housing and retail continues to surge.
This offering represents a compelling opportunity for developers seeking scale, location, and upside in one of LA’s most dynamic submarkets.
Previously entitled for a mixed-use development featuring 160 residential units and 23,770 SF of retail, the site is zoned (T)(Q)C2-2D O-CPIO and falls within a Tier 4 TOC zone, allowing for increased density and reduced parking requirements. Developers can re-entitle the site for up to 316 units under the TOC ordinance, with no linkage fees required. The parcel is situated in an Opportunity Zone, offering significant tax advantages for long-term investors.
Surrounded by transformative projects like the $1 billion SoLa Village development and within walking distance to cultural landmarks such as Staples Center, Union Station, and the Arts District, this site is ideally positioned to capitalize on Downtown LA’s urban renaissance. With over $21 billion invested in the area since 2005 and a growing population of affluent, educated residents, the demand for housing and retail continues to surge.
This offering represents a compelling opportunity for developers seeking scale, location, and upside in one of LA’s most dynamic submarkets.
PROPERTY FACTS
| Price | $11,900,000 | Property Subtype | Residential |
| Sale Type | Investment | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 0.81 AC |
| Property Type | Land | Opportunity Zone |
Yes
|
| Zoning | C2-2D-0 | ||
| Price | $11,900,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | |
| Total Lot Size | 0.81 AC |
| Opportunity Zone |
Yes |
| Zoning | C2-2D-0 |
1 LOT AVAILABLE
Lot
| Price | $11,900,000 | Lot Size | 0.81 AC |
| Price Per AC | $14,691,358.02 |
| Price | $11,900,000 |
| Price Per AC | $14,691,358.02 |
| Lot Size | 0.81 AC |
1 1
Walk Score®
Walker's Paradise (91)
Transit Score®
Rider's Paradise (97)
Bike Score®
Very Bikeable (83)
PROPERTY TAXES
| Parcel Number | 5126-026-008 | Improvements Assessment | $105,472 |
| Land Assessment | $9,043,592 | Total Assessment | $9,149,064 |
PROPERTY TAXES
Parcel Number
5126-026-008
Land Assessment
$9,043,592
Improvements Assessment
$105,472
Total Assessment
$9,149,064
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233 W Washington Blvd - Grand Metropolitan
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