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511 Grand ave 1.37 Acres of Commercial Land Offered at $20,000,000 in Los Angeles, CA 90012
Investment Highlights
- Located at the intersection of Grand Avenue and W Cesar E Chavez Ave with direct 101 Freeway access.
- Surrounded by cultural hubs, including Little Tokyo, Chinatown, and the Civic Center.
- Walking distance to Metro rail stations and major DTLA attractions.
- Entitled for a 22-story tower with 299 residential units and 8,000 SF of retail space.
- Zoning and TOC incentives allow for high-density multifamily or mixed-use development.
- Current income from an existing tenant during entitlement phase.
Executive Summary
511 N Grand Avenue presents a rare opportunity to acquire a fully entitled development site in the heart of Downtown Los Angeles. Spanning approximately 1.37 acres, the property is positioned at the intersection of Grand Avenue and West Cesar E Chavez Avenue, offering exceptional visibility and access from the 101 Freeway. The site is entitled for a 22-story mixed-use tower featuring 299 residential units and 8,000 square feet of ground-floor retail space, with the flexibility to revise plans to meet market demand or pursue a condominium conversion.
The property benefits from its location within an amenity-rich urban core, minutes from cultural destinations such as Little Tokyo and Chinatown, and within walking distance to the Civic Center/Grand Park Metro Station. Zoning and TOC bonuses support high-density development, making this an attractive option for developers seeking to capitalize on Los Angeles’ strong housing demand.
Currently, the site generates $148,000 in annual income from a month-to-month Burger King lease, providing cash flow during the entitlement process. With its prime location, transit-oriented setting, and entitlement status, this property offers significant upside for investors and developers targeting the DTLA market.
The property benefits from its location within an amenity-rich urban core, minutes from cultural destinations such as Little Tokyo and Chinatown, and within walking distance to the Civic Center/Grand Park Metro Station. Zoning and TOC bonuses support high-density development, making this an attractive option for developers seeking to capitalize on Los Angeles’ strong housing demand.
Currently, the site generates $148,000 in annual income from a month-to-month Burger King lease, providing cash flow during the entitlement process. With its prime location, transit-oriented setting, and entitlement status, this property offers significant upside for investors and developers targeting the DTLA market.
Property Facts
| Price | $20,000,000 | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | Mixed Use |
| No. Lots | 1 | Total Lot Size | 1.37 AC |
| Property Type | Land | ||
| Zoning | C2-2D, R5-2D - Mixed use - commercial and residential | ||
| Price | $20,000,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Mixed Use |
| Total Lot Size | 1.37 AC |
| Zoning | C2-2D, R5-2D - Mixed use - commercial and residential |
1 Lot Available
Lot
| Price | $20,000,000 | Lot Size | 1.37 AC |
| Price Per AC | $14,598,540.15 |
| Price | $20,000,000 |
| Price Per AC | $14,598,540.15 |
| Lot Size | 1.37 AC |
Description
The property consists of approximately 1.37 acres located at 511 N Grand Avenue and 700 W Cesar E Chavez Avenue in Los Angeles, California. It is situated near the 101 Freeway and within proximity to the Civic Center, Little Tokyo, and Chinatown. The site is entitled for a 22-story building with residential and retail components. Current zoning is C2-2D and R5-2D within the Central City community plan area. The property includes multiple parcels and currently has an operating quick-service restaurant on a month-to-month lease.
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Walk Score®
Very Walkable (89)
Transit Score®
Rider's Paradise (100)
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $34,134,868 | Total Assessment | $34,134,868 |
Property Taxes
Parcel Numbers
Land Assessment
$34,134,868
Improvements Assessment
$0
Total Assessment
$34,134,868
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