3965 E Olympic Blvd
Los Angeles, CA 90023
Land For Sale · 1.28 AC

The Brandon Michaels Group of Marcus & Millichap has been selected to exclusively market for sale 3965 E Olympic Boulevard and 1156 S Hicks Ave, a 55,839 (1.28 Acres) square foot lot zoned C-3 and R-3 in unincorporated Los Angeles, CA. 3965 E Olympic Boulevard and 1156 S Hicks Ave is two parcels of unimproved land directly off the Santa Ana (5) Freeway in East Los Angeles. The subject property enjoys superior zoning to the surrounding area with the majority of land zoned C-3 among other parcels in the area zoned for commercial manufacturing. This unique zoning entitles a new owner to additional residential density (up to 50 units per acre) and a broader range of permitted land uses. This land opportunity on the corner of Olympic Boulevard and Ditman Avenue benefits from excellent foot traffic in the immediate area and high daily traffic counts with over 21,000 vehicles traveling on the Boulevard daily. The property benefits from unprecedented visibility and frontage on three streets with roughly 260’ on Olympic Blvd, 303’ on Ditman Ave, and 125’ along Hicks Ave, providing any new development a variety of egress and ingress options. Multiple national tenants have expressed interest in the site, in fact, there is signed 10 year lease with Starbucks. That being said, there is an emergency ordinance in place that restricts the use of gas station, car wash, and drive-thru's at this location. These uses require a Conditional Use Permit (CUP) subject to a public hearing. Please contact the listing agents for more details. The subject property rests in a pocket of Los Angeles County east of its namesake city benefiting from a dense immediate population of approximately 893,057 people within a five-mile radius, and an average household income north of $71,879 within a five-mile radius. The retail rents in the submarket have risen more than 12% in the past 5 years with the multifamily sector seeing increases of almost 4%, outpacing average growth throughout Los Angeles. East Los Angeles is a densely populated East San Fernando Valley sub-market that offers its residents a dense suburban feel that has undergone significant growth over the past decade and is the home to some of the nation’s top retailers 3965 E Olympic Boulevard and 1156 S Hicks Ave is ideally located in East Los Angeles. The excellent signalized corner has strong daily traffic counts north of 21,000 vehicles per day and has a Walk Score of 78 (Very Walkable). The subject property is located directly off the 5 Freeway via the Ditman Ave with the Citadel Outlets of Commerce to the southeast and the DTLA Arts District to the northwest. The Property also benefits from its proximity to two large retail centers 2.5 miles to its east, with over 400,000 and 465,000 retail square footage, respectively. These centers house major national tenants like Target, Ross, DD’s Discount, Nike, Coach, Chipotle, and Starbucks among a variety of others. The subject property benefits from a dense population in the immediate area, with over 33,269 people within one mile of the subject property, over 275,950 people within three miles, and over 893,057 people within five miles. The immediate submarket boasts an average household income within one, three, and five miles is $62,601, $65,096, and $71,879, respectively, with a median income within one, three, and five miles $47,367, $49,256, and $51,648, respectively. There are over 7,582 households within one mile of the subject property, and over 68,775 households within three miles. The median home value in the immediate area is $484,227.