Attractive investment opportunity in a prime location directly off of the 110 Freeway. The property portfolio comprises several lots situated in downtown Los Angeles, strategically positioned near the Convention Center, LA Live and Crypto Arena. The lots offer a combined land area of 68,707 square feet (1.57 acres) and are zoned CM-1-O – Commercial Manufacturing. The properties boast excellent accessibility to major transportation routes, public amenities, and business hubs, making them highly desirable for parking, commercial development, mixed-use projects and affordable housing projects (ED1 eligible by right).
Downtown Los Angeles has experienced significant growth and revitalization in recent years, becoming a vibrant hub for commerce, entertainment, and residential development. The area benefits from a thriving Convention Center, Crypto Arena and LA Live hosting numerous high-profile events and attracting a steady stream of visitors. The proximity of the lots to these venues further enhances their appeal for potential buyers, presenting a unique opportunity to capitalize on the growing demand for parking, commercial, hospitality and housing space in the vicinity.
The property is asphalt paved and fenced and utilized as surface parking lots, serving the surrounding Downtown Office and Commercial district; including the Staples Center and LA Live Sports and Entertainment Venues. The subject is located in the Enterprise Zone and Transit Priority Overlay Zones. Offering consists of the following parcels -5137022017, 5137023001, 5137023003, 5137023007, 5137023008, 5137023009