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3043-S La Brea Ave - Ideal, Affordable, House/Mixed Use Site 0.92 Acres of Commercial Land in Los Angeles, CA 90016

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INVESTMENT HIGHLIGHTS

Located in an Opportunity Zone (10-Year Tax Incentive).
Zoned for Mixed-Use with 92,731 SF of floor area approved.

TOD/TOC/FAR incentives available.
Reductions in required setbacks.

EXECUTIVE SUMMARY

ELIGIBLE for ED1, LA's Fast-Track *Affordable Housing* Development Program.Ideal, Affordable, House/Mixed Use Site. OPPORTUNITY ZONE!!! TIER 3!! HALF BLOCK TO METRO LA BREA STATION!! TOD/TOC/FAR!! ZONED FOR MINIMUM 208 UNITS!! Attention Developers, Builders, and Investors: An exciting, prime Jefferson Corridor development opportunity awaits in a transit-rich West Adams location just one block from the Metro E Line (Expo) which connects Santa Monica to DTLA. COSTCO IS JOINING THE CORRIDOR. There are six parcels in total (C1.5-1VL-CPIO, R3-1). 3043 S. La Brea Avenue is strategically located on the easternmost border of a Qualified Opportunity Zone, potentially allowing an investor to capitalize on economic incentives. This location provides tax advantages for an investor, reducing capital gains by as much as 15% over a seven-year hold period and is fully exempt from capital gains tax if the investment is held for at least 10 years (buyer to verify with a qualified tax professional). Bordered by Culver City, south of LACMA, and northeast of Silicon Beach, the Jefferson Corridor has launched numerous redevelopment projects, establishing the area as a thriving commercial, tech, entertainment, and mixed-use district. The property is surrounded by innovative global market leaders and high-profile projects including Amazon Studios, Costco (upcoming), Warner Media, HBO, Whole Foods, The Grove LA, Cumulus, Exposition Park, Sony Pictures, and the new Apple Campuses.

PROPERTY FACTS

Sale Type	Investment	Proposed Use	Commercial Mixed Use Apartment Units
No. Lots	1	Total Lot Size	0.92 AC
Property Type	Land	No. Stories	1
Property Subtype	Commercial	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	C1.5-1VL-CPIO & R3-1 - Limited Commercial C1 Uses – Retail, Theaters, Hotels, Broadcasting Studios, Parking Buildings, Parks and Playgrounds, R4 Uses

Sale Type	Investment
No. Lots	1
Property Type	Land
Property Subtype	Commercial
Proposed Use	Commercial Mixed Use Apartment Units
Total Lot Size	0.92 AC
No. Stories	1
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	C1.5-1VL-CPIO & R3-1 - Limited Commercial C1 Uses – Retail, Theaters, Hotels, Broadcasting Studios, Parking Buildings, Parks and Playgrounds, R4 Uses

1 LOT AVAILABLE

Lot

Lot Size	0.92 AC

Lot Size	0.92 AC

DESCRIPTION

ELIGIBLE for ED1, LA's Fast-Track *Affordable Housing* Development Program. CALL AGENT FOR DETAILS! ~ Ideal, Affordable, House/Mixed Use Site. Originally priced at $14M - reduced by 25% by Highly Motivated Seller!! OPPORTUNITY ZONE!!! TIER 3!! HALF BLOCK TO METRO LA BREA STATION!! TOD/TOC/FAR!! ZONED FOR MINIMUM 164 UNITS!! Attention Developers, Builders, and Investors: An exciting, prime Jefferson Corridor development opportunity awaits in a transit-rich West Adams location just one block from the Metro E Line (Expo) which connects Santa Monica to DTLA. COSTCO IS JOINING THE CORRIDOR. There are six parcels in total (C1.5-1VL-CPIO, R3-1). 3043 S. La Brea Avenue is strategically located on the easternmost border of a Qualified Opportunity Zone, potentially allowing an investor to capitalize on economic incentives. This location provides tax advantages for an investor, reducing capital gains by as much as 15% over a seven-year hold period and is fully exempt from capital gains tax if the investment is held for at least 10 years (buyer to verify with a qualified tax professional). Bordered by Culver City, south of LACMA, and northeast of Silicon Beach, the Jefferson Corridor has launched numerous redevelopment projects, establishing the area as a thriving commercial, tech, entertainment, and mixed-use district. The property is surrounded by innovative global market leaders and high-profile projects including Amazon Studios, Costco (upcoming), Warner Media, HBO, Whole Foods, The Grove LA, Cumulus, Exposition Park, Sony Pictures, and the new Apple Campuses.

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Walk Score®

Very Walkable (85)

Bike Score®

Very Bikeable (81)

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PROPERTY TAXES

Parcel Numbers	Multiple 5049-032-057 5049-032-067	Improvements Assessment	$385,809 CAD
Land Assessment	$579,949 CAD	Total Assessment	$965,758 CAD

PROPERTY TAXES

Parcel Numbers

Multiple

5049-032-057
5049-032-067

Land Assessment

$579,949 CAD

Improvements Assessment

$385,809 CAD

Total Assessment

$965,758 CAD

(310) 550-2537

CONTACTS

Jeff Pion
Michelle Esquivel-Hall
Drew Pion
CBRE, Inc.

Listing ID: 33087618
Date on Market: 2023-02-15
Last Updated:
Address: 3043-S La Brea Ave, Los Angeles, CA 90016

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3043-S La Brea Ave, Los Angeles, CA for sale Building Photo- Image 1 of 5 — Property with Highlighted Parcel

3043-S La Brea Ave, Los Angeles, CA for sale Building Photo- Image 2 of 5 — View of Lot and Building

3043-S La Brea Ave, Los Angeles, CA for sale Building Photo- Image 3 of 5 — View of Building at Intersection

3043-S La Brea Ave, Los Angeles, CA for sale Plat Map- Image 4 of 5 — Plat Map

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