This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
771-777 E 18th St
Los Angeles, CA 90021
Land For Sale
·
0.19 AC
PROPERTY FACTS
| Property Type | Land | Proposed Use | Industrial |
| Property Subtype | Industrial | Total Lot Size | 0.19 AC |
| Zoning | M2 2-0, Los Angeles | ||
| Property Type | Land |
| Property Subtype | Industrial |
| Proposed Use | Industrial |
| Total Lot Size | 0.19 AC |
| Zoning | M2 2-0, Los Angeles |
DESCRIPTION
CBRE has been selected to exclusively represent 771-777 E 18th St, a unique property in the Fashion District of Downtown Los Angeles featuring 2 single family residential homes (NOT rent-controlled) on industrial land, fully occupied by month-to-month tenants. The two parcels, with APNs 5131-001-024 and 5131-001-026 consist of industrial lots zoned M2 totaling 8,157 SF of land, and 2,772 SF of building. Current rents are below market, with each property generating approximately $2,250 per month gross ($4,500 per month total). This property presents a unique opportunity for investors with foresight, or industrial owner/user developers who have a future use for the land. This property is NOT rent-controlled, meaning the property can be delivered vacant upon close of escrow. This site is within walking distance of a major transit, qualifying it as Tier 3 of the Transit-Oriented Communities (TOC) program by LA City – a new program providing development incentives for affordable housing. This site would make an excellent piece of a future affordable housing development if assembled with adjacent parcels. The TOC Tier 3 designation provides for a “by-right” 70% density bonus, 0.5 parking stalls per unit, and a height increase of 33 feet. Note - a variance would be required to build housing units on the site given the M2 zoning. Highlights: • Price reduced! $180 per SF of land • NOT rent-controlled • Small lot industrial development potential • Fashion district adjacent • Below-market Gross Scheduled Income (GSI) = $54,000 • Within walking distance of a major transit, qualifying it as Tier 3 of the Transit-Oriented Communities (TOC) program by LA City – a new program providing development incentives for affordable housing. • Long-term development potential – TOC Tier 3 provides for a “by-right” 70% density bonus, a parking requirement reduced to 0.5 parking stalls per unit, and a height increase of 33 feet. Note - a variance would be required to build housing units on the site given the M2 zoning. • Easy access to I-10, 110 and 101 Freeways, minutes to I-5
