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Commercial

201-211 Lucas Avenue

211 Lucas Ave, Los Angeles, CA 90026

Listing Price: $3,200,000

Lot Size
0.28 acres
Price/Acre
$11,326,237
Land Type
Land

Investment Overview

Transit Oriented Community (TOC) on the corner of Lucas Avenue and West 2nd Street in the heart of Downtown Los Angeles, CA The Brandon Michaels Group of Marcus and Millichap is pleased to present 201-211 Lucas Avenue, a 12,037 square foot development site currently improved with one 11 unit apartment building. 201-211 Lucas Avenue is located just south of Echo Park, and is less than two miles from both Dodger Stadium and the STAPLES Center. The property features immediate access to Downtown Los Angeles, MacArthur Park, Echo Park, and Silver Lake. This is a unique opportunity to purchase a centrally located development site in Downtown Los Angeles. Spread over three contiguous parcels, this project allows for thirty-one (31) units to be built by right, but with the TOC Tier 1 density bonus, there is a potential to build up to forty-seven (47) units. 201-211 Lucas Avenue is in a high-growth location, multifamily rents per unit are forecast to increase by 12% in the next five years making this a phenomenal value-add and development opportunity. The land is currently improved with one eleven (11) unit 5,872 square foot apartment building. The building is currently 91% occupied, with just one vacancy.

Investment Highlights

  • EXCELLENT DOWNTOWN LOS ANGELES LOCATION
  • DEVELOPMENT OPPORTUNITY LOCATED IN A TIER 1 TOC
  • IDEALLY SURROUNDED BY DEVELOPMENT PROJECTS

Exclusively Listed By

Listing Price: $3,200,000

Lot Size
0.28 acres
Price/Acre
$11,326,237
Land Type
Land

Investment Highlights

  • EXCELLENT DOWNTOWN LOS ANGELES LOCATION
  • DEVELOPMENT OPPORTUNITY LOCATED IN A TIER 1 TOC
  • IDEALLY SURROUNDED BY DEVELOPMENT PROJECTS

Investment Overview

Transit Oriented Community (TOC) on the corner of Lucas Avenue and West 2nd Street in the heart of Downtown Los Angeles, CA The Brandon Michaels Group of Marcus and Millichap is pleased to present 201-211 Lucas Avenue, a 12,037 square foot development site currently improved with one 11 unit apartment building. 201-211 Lucas Avenue is located just south of Echo Park, and is less than two miles from both Dodger Stadium and the STAPLES Center. The property features immediate access to Downtown Los Angeles, MacArthur Park, Echo Park, and Silver Lake. This is a unique opportunity to purchase a centrally located development site in Downtown Los Angeles. Spread over three contiguous parcels, this project allows for thirty-one (31) units to be built by right, but with the TOC Tier 1 density bonus, there is a potential to build up to forty-seven (47) units. 201-211 Lucas Avenue is in a high-growth location, multifamily rents per unit are forecast to increase by 12% in the next five years making this a phenomenal value-add and development opportunity. The land is currently improved with one eleven (11) unit 5,872 square foot apartment building. The building is currently 91% occupied, with just one vacancy.

Exclusively Listed By

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