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1470 W Adams Blvd
Los Angeles, CA 90007
Multifamily Property For Sale
·
2 Units
Investment Highlights
- 12,765 square feet of land zoned C2
- Flexible investment Options with existing property (1-2):
- 2. Add ADU on the spacious rear portion of the property
- TOC Tier 3, allowing for up to 53 units
- 1. Preserve and restore the existing 131-year-old historic property (Adapt it into multi-unit/ student housing)
- Versatile redevelopment opportunity: - Contemporary student housing, - Affordable housing, - Retail/ multifamily
Executive Summary
Marcus & Millichap is pleased to present 1470 W Adams Blvd, a 12,765 square foot lot located one parcel east South Catalina Street and West Adams Boulevard, within the Adams-Normandie Historic Preservation Overlay Zone (HPOZ). Currently being occupied by the seller as an ARF Boarding Care Level (2). Per the City of Los Angeles zoning regulations, the site allows for the development of 31 market rate apartment units “buy right.”
In addition, the site qualifies under the Transit Oriented Communities (TOC) program at Tier 3 status, for a density bonus potentially allowing for up to 53 units through the 70% TOC density bonus incentive. Paired with a 30% reduction in parking requirements via the TOC designation, enhancing project efficiency, and reducing development costs it provides a developer with a plethora of architectural options.
With its proximity to major educational institutions, employment centers, entertainment venues, and transportation, 1470 W Adams Blvd is well-positioned for student housing, workforce or affordable housing, multifamily development, and/or long-term investment strategies. Providing an attractive opportunity for investors and developers seeking strong income and long-term appreciation potential.
Whether your strategy is to develop modern student housing, pursue affordable housing, establish a signature project in one of Los Angeles' most active and rapidly evolving corridors, 1470 W Adams Blvd presents a truly exceptional development opportunity. The property can be delivered vacant; which offers a clean slate and flexibility to execute your vision from the ground up. A site with this combination of location, potential, and flexibility are rarely available.
In addition, the site qualifies under the Transit Oriented Communities (TOC) program at Tier 3 status, for a density bonus potentially allowing for up to 53 units through the 70% TOC density bonus incentive. Paired with a 30% reduction in parking requirements via the TOC designation, enhancing project efficiency, and reducing development costs it provides a developer with a plethora of architectural options.
With its proximity to major educational institutions, employment centers, entertainment venues, and transportation, 1470 W Adams Blvd is well-positioned for student housing, workforce or affordable housing, multifamily development, and/or long-term investment strategies. Providing an attractive opportunity for investors and developers seeking strong income and long-term appreciation potential.
Whether your strategy is to develop modern student housing, pursue affordable housing, establish a signature project in one of Los Angeles' most active and rapidly evolving corridors, 1470 W Adams Blvd presents a truly exceptional development opportunity. The property can be delivered vacant; which offers a clean slate and flexibility to execute your vision from the ground up. A site with this combination of location, potential, and flexibility are rarely available.
Property Facts
| Price Per Unit | $1,936,886 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.29 AC |
| No. Units | 2 | Building Size | 4,313 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1895 |
| Apartment Style | Single-Family Home | ||
| Zoning | LAC2 Zoning, Tier 3 TOC - With LAC2 zoning and Tier 3 TOC incentives | ||
| Price Per Unit | $1,936,886 CAD |
| Sale Type | Investment |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single-Family Home |
| Building Class | B |
| Lot Size | 0.29 AC |
| Building Size | 4,313 SF |
| No. Stories | 2 |
| Year Built | 1895 |
| Zoning | LAC2 Zoning, Tier 3 TOC - With LAC2 zoning and Tier 3 TOC incentives |
Amenities
Unit Amenities
- Fireplace
- Kitchen
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 2 | - | - |
Property Taxes
| Parcel Number | 5054-028-017 | Improvements Assessment | $46,993 CAD |
| Land Assessment | $88,391 CAD | Total Assessment | $135,384 CAD |
Property Taxes
Parcel Number
5054-028-017
Land Assessment
$88,391 CAD
Improvements Assessment
$46,993 CAD
Total Assessment
$135,384 CAD
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