Investment Overview

Marcus and Millichap is pleased to a 20,141 square foot lot located at 4307-09 Dozier Street in unincorporated Los Angeles County, California. The subject property is situated in a good East Los Angeles location, north of E Cesar E Chavez Avenue and east of N Eastern Avenue. Formerly known as the Belvedere Gardens, the East Los Angeles submarket is an unincorporated area free from municipal corporate governance. It is a well-connected transportation hub with access to light rail service and the Los Angeles County Metropolitan Transportation Authority (Metro). There are five (5) public schools and three (3) private schools, as well as many landmarks such as the Commerce Center and the Montebello Country Club. The area is currently experiencing an increase in development as the county continues to push for supportive housing and other programs with over $149m in grants available as of July 2023. Recently, Meta Housing Corp has announced the completion of the La Paza Apartments, a new affordable housing complex at the intersection of Whittier Boulevard and Downey Avenue. The project features a three-story building with 42 apartments. Another project that is nearing completion is the “3+D”, a 78-unit apartment building that broke ground in late 2021 along the corner of 3rd Street and Dangler Avenue. This offering is positioned on one (1) parcel totaling 20,141 square feet (SF) of land with a zoning ordinance of LCR3. This allows for thirteen (13) units by-right. Additionally, this offering is a corner lot positioned in a residential neighborhood near many local schools and amenities. The lot is currently operating as a two (2) unit multifamily property with detached garages that have been converted into one-bedroom / one-bathroom living spaces (non-conforming), giving a developer income while going through entitlements. Tenants will adore living nearby some of the best restaurant, retail, and entertainment amenities East Los Angeles has to offer. Included in these amenities is Mexes Cafe, La Azteca Tortilleria, Eugene Obregon LA County Park, and Belvedere Community Regional Park. Situated in a good East Los Angeles location in unincorporated LA County, this offering presents an excellent opportunity for any developer to capitalize on a rare, redevelopment opportunity on a large corner lot.