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.
Property Type :
Land
County :
Los Angeles
Style :
Land
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ByOwner last updated this listing 05/04/2024 @ 19:06
MLS: 23242283
LISTED BY: Sally Forster Jones, Compass
SOURCE: CRMLS
Buyer Agency Compensation: 1.5%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.
