3077 Cahuenga Blvd W - Commercial LAND FOR SALE


Los Angeles, CA 90068 24,829 SF
$5,795,000 USD
310-469-9398
3077 Cahuenga Blvd W, Los Angeles, CA for Sale
$5,795,000 USD
Commercial LAND - FOR SALE
1/8
24,829 SF

3077 Cahuenga Blvd W
Los Angeles, CA 90068


HIGHLIGHTS

  • Fully Entitled 100% Affordable 122 Unit Development
  • Currently occupied by a tenant on a MTM lease, generating income during the permitting period
  • Unique Location neighboring the Hollywood Hills, Universal City, and Studio City
  • Close Proximity to Transit and Major Landmarks like Universal Studios and The Hollywood Bowl
  • 322,000 Vehicles Per Day along The 101 Freeway

OVERVIEW

Matthew Luchs with Zacuto Group is exclusively marketing the sale of a prime property located at 3077 Cahuenga Blvd W. This opportunity features a 5,556 square foot autobody shop situated on a 24,614 square foot lot, which is zoned C2. The property is particularly appealing to both investors and owner-users due to its versatile potential. Currently, the property is leased to an autobody shop on a month-to-month basis, offering immediate income potential. For owner-users, this presents a unique opportunity to acquire a well-located, operational facility while benefiting from an existing income stream. This setup allows for flexibility in transitioning to ownership or expanding business operations without the immediate pressure of finding a new tenant. In addition to its current use, the property is fully entitled for the development of 122 residential units under the ED1 program. This Los Angeles initiative is designed to expedite approvals and provide incentives for 100% affordable housing projects. The ED1 program offers substantial advantages, including unlimited density, increased height, and flexible floor area ratio (FAR) requirements, along with multiple development incentives that streamline the process. This makes the property especially attractive for developers aiming to quickly deliver affordable housing solutions, while also presenting an excellent option for owner-users interested in future redevelopment or expansion. The property also generates additional revenue through an on-site billboard and includes a traffic tracker, enhancing its investment appeal. Its high visibility and strategic location in the Studio City submarket, known for its limited supply and constrained market conditions, further underscore its value. With its existing income stream, development potential under the ED1 program, and attractive location, this asset presents a compelling opportunity for both investors and owner-users.

FOR SALE DETAILS

PRICE

$5,795,000 USD

PRICE/ACRE

$10,166,749/AC

PRICE/SF

$233 USD /SF

# OF LOTS

-

LAND DETAILS

PROPERTY NAME

Entitled for 122 Affordable Units

PROPERTY TYPE

Land

PROPERTY SUBTYPE

Commercial

LAND PROPOSED USE

Multi-Family, Apartment Units

LAND ACRES

0.57 AC

LAND SF

24,829 SF

OFFSITE IMPROVEMENTS

Sewer, Water, Electricity, Gas, Streets, Curb/Gutter/Sidewalk, Cable, Telephone, Irrigation

ZONING

C2-1VL

APN/PARCEL ID

2429-019-009

ASK ABOUT THIS PROPERTY

Matthew LuchsZacuto GroupMore Info
310-469-9398

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Matthew LuchsZacuto GroupMore Info
310-469-9398

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.