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231 Venice Blvd - Prime Corner Lot with Billboard & Income
0.28 Acres of Commercial Land Offered at $4,762,560 CAD in Los Angeles, CA 90015
INVESTMENT HIGHLIGHTS
- Signalized Corner: ±12,006 SF Parking Lot with Existing Income
- Versatile Development Opportunity (Multi-Family Housing & Apartments, Senior/Assisted Living, Medical, Commercial)
- Within Zone of Downtown Los Angeles Community Plan Update (DTLA 2040) in effect January 2025
- Multiple Income Streams: Billboard, Valet, Cafe, and Parking Agreement
- Desirable South Park Location | ±38 Striped Parking Spaces
- Located within an Opportunity Zone, State Enterprise Zone with Tier 3 TOC
EXECUTIVE SUMMARY
Compass is pleased to present 231 Venice Blvd; an exceptional investment, owner-user, and development opportunity poised for transformation in Downtown Los Angeles’ South Park. The parcel is zoned C2, located with an Opportunity Zone, State Enterprise Zone, and features TOC Tier 3 designation. 231 Venice Blvd is inclusive in the Downtown Los Angeles Community Plan Update (DTLA 2040) in effect January 2025, with significant updates to the existing zoning code and redevelopment standards.
The ±12,006 square-foot land parcel currently operates as a surface-level and income-producing parking lot. The property generates income through multiple channels, including parking and license agreements, a billboard, and cafe located on the corner of the parking lot. The parking lot features ±38 parking spaces, but can optionally accommodate ±50 or more parking spaces in a tandem configuration. The parcel, as an attractive investment or future development site, accommodates of an array of potential future uses per the City of Los Angeles, including but not limited to: commercial, medical, healthcare, industrial, multifamily apartments, affordable housing, flex space, fitness, religious facility/church, school, banquet hall, and creative space.
The property is well-located and adjacent to educational, medical, and newly developed apartment buildings, while situated only 2 blocks north of the Santa Monica I-10 Freeway and in proximity to Crypto. com Arena, Microsoft Theater, LA Live, and the Los Angeles Convention Center.
___________________________________________________________________
*For All Inquiries: Please Contact Oliver Ghadoushi.
*Buyer to verify any and all accuracy of information.
PROPERTY FACTS
| Price | $4,762,560 CAD | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 0.28 AC |
| Property Type | Land | Opportunity Zone |
Yes
|
| Price | $4,762,560 CAD |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 0.28 AC |
| Opportunity Zone |
Yes |
1 LOT AVAILABLE
Lot
| Price | $4,762,560 CAD | Lot Size | 0.28 AC |
| Price Per AC | $17,279,442.62 CAD |
| Price | $4,762,560 CAD |
| Price Per AC | $17,279,442.62 CAD |
| Lot Size | 0.28 AC |
DESCRIPTION
*Reviewing All Offers - Contact Broker* Compass is pleased to present 231 Venice Blvd; an exceptional investment, owner-user, and development opportunity poised for transformation in Downtown Los Angeles’ South Park. The parcel is zoned C2, located with an Opportunity Zone, State Enterprise Zone, and features TOC Tier 3 designation. 231 Venice Blvd is inclusive in the Downtown Los Angeles Community Plan Update (DTLA 2040) in effect January 2025, with significant updates to the existing zoning code and redevelopment standards. The ±12,006 square-foot land parcel currently operates as a surface-level and income-producing parking lot. The property generates income through multiple channels, including parking and license agreements, a billboard, and cafe located on the corner of the parking lot. The parking lot features ±38 parking spaces, but can optionally accommodate ±50 or more parking spaces in a tandem configuration. The parcel, as an attractive investment or future development site, accommodates of an array of potential future uses per the City of Los Angeles, including but not limited to: commercial, medical, healthcare, industrial, multifamily apartments, affordable housing, flex space, fitness, religious facility/church, school, banquet hall, and creative space. The property is well-located and adjacent to educational, medical, and newly developed apartment buildings, while situated only 2 blocks north of the Santa Monica I-10 Freeway and in proximity to Crypto. com Arena, Microsoft Theater, LA Live, and the Los Angeles Convention Center. ___________________________________________________________________ *Buyer to verify any and all accuracy of information.
PROPERTY TAXES
| Parcel Number | 5134-021-002 | Improvements Assessment | $16,958 CAD |
| Land Assessment | $3,850,822 CAD | Total Assessment | $3,867,781 CAD |
PROPERTY TAXES
ZONING
| Zoning Code | LA C2-2D (LA C2-2D | Central Business District TOC (TRANSIT ORIENTED COMMUNITIES): TIER 3 DESIGNATION OPPORTUNITY ZONE STATE ENTERPRISE ZONE) |
| LA C2-2D (LA C2-2D | Central Business District TOC (TRANSIT ORIENTED COMMUNITIES): TIER 3 DESIGNATION OPPORTUNITY ZONE STATE ENTERPRISE ZONE) |
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231 Venice Blvd - Prime Corner Lot with Billboard & Income
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