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201-211 Lucas Avenue
Los Angeles, CA 90026

Price: $2,695,000 Zoning: R4(CW)-75/3
Bldg SF: 5,872 SF Price/Land SF: $224
Land SF: 12,037 SF TOC: Tier 1
Click to View Offering MemorandumClick to Print Offering Memorandum

Exclusively Listed by:
Brandon Michaels
(818) 212-2794
bmichaels@marcusmillichap.com
License # 01434685


Matthew Luchs
(818) 212-2727
matthew.luchs@marcusmillichap.com
License # 01948233

Price: $2,695,000
Bldg SF: 5,872 SF
Land SF: 12,037 SF
Price/Land SF: $224
Zoning: R4(CW)-75/3
TOC: Tier 1
Click to View Offering MemorandumClick to Print Offering Memorandum

Exclusively Listed by:
Brandon Michaels
(818) 212-2794
bmichaels@marcusmillichap.com
License # 01434685


Matthew Luchs
(818) 212-2727
matthew.luchs@marcusmillichap.com
License # 01948233

Investment Highlights

EXCELLENT DOWNTOWN LOCATION

 

  • Ideally located at the corner of Lucas Avenue and West 2nd Street
  • Located just south of Silver Lake and Echo Park
  • Less than two miles from Dodger Stadium<
  • Two miles from the STAPLES Center

 

FANTASTIC DEVELOPMENT OPPORTUNITY

 

  • 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
  • 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

 

IDEALLY SURROUNDED BY DEVELOPMENT PROJECTS

 

  • 201-211 Lucas Avenue is located within two miles of Kurve on Wilshire, a $300 million mixed-use project which will consist of a 25-story tower which will feature 644 residential units, 15,000 square feet of ground-floor retail and restaurant space
  • Two and a half miles from the subject property is 200 N. Vermont Avenue, a development project which calls for the construction of a six-story structure containing 490 apartment units above 35,000 square feet of ground-floor retail space, and parking for 549 cars within a two-level garage
  • Less than three miles from The Rise Koreatown, a seven story 364-unit mixed-use development project
  • 696 S. New Hampshire Avenue is located three miles from 201-211 Lucas Avenue, a development project which will consist of a 38-story building with 375 residential units

 

STRONG IMMEDIATE DEMOGRAPHICS AND DENSE SURROUNDING POPULATION

 

  • Population within one mile of the property eclipses 97,300, 564,800 within three miles, and 1,232,600 within three miles
  • There are over 36,100 households located within one mile of the property, 203,800 within three miles, and 411,800 within five miles
  • Average household income within one mile of the property is over $67,800, $69,800 within three miles, and $74,400 within five miles