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774 N Broadway 0.61 Acres of Commercial Land Offered at $8,250,000 in Los Angeles, CA 90012
Investment Highlights
- Prime Chinatown Location.
- No Existing Entitlements.
- Prominent Corner Positioning.
- Covered Land Development Site.
Executive Summary
The property falls within the Commercial Mixed-Use (CX1) use district under the new downtown zoning code, permitting a variety of uses including but not limited to a mixed-use development with ground-floor retail and residential units above. The project will be subject to the City's Inclusionary Housing Requirements. Density is regulated by Floor Area Ratio (FAR), with no minimum lot area per dwelling unit, allowing for highly efficient and dense development.
The property is currently improved with a parking lot generating interim income, providing a buyer with the opportunity to collect revenue while pursuing entitlements. With no existing approvals in place, a prospective developer has the flexibility to design and execute a project that fully capitalizes on the site's zoning and prime location.
Property Facts
1 Lot Available
Lot
| Price | $8,250,000 | Lot Size | 0.61 AC |
| Price Per AC | $13,610,964.00 |
| Price | $8,250,000 |
| Price Per AC | $13,610,964.00 |
| Lot Size | 0.61 AC |
Description
The property comprises approximately 0.61 acres of land on North Broadway in the Chinatown submarket of Downtown Los Angeles. It is zoned LAC2 for commercial use and lies within an area eligible for Transit Oriented Communities programs. Public records indicate classification as a parking lot site, located near Union Station and major transit corridors. Nearby public transportation, retail options, and cultural points of interest characterize the surrounding area. The property is positioned close to major freeways and is within driving distance to Los Angeles International Airport (LAX) and Bob Hope Airport.
Property Taxes
| Parcel Number | 5408-024-007 | Improvements Assessment | $28,130 |
| Land Assessment | $10,856,289 | Total Assessment | $10,884,419 |
Property Taxes
Presented by
774 N Broadway
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