Development Opportunity For Sale | 36,864 SF of Land | 3 Parcels in West L.A.
Market Price
3424 Motor Avenue, Los Angeles, CA 90034
23,570 sqft
Building Size
36,864 sqft
Lot Area
Details:
Description:
WESTMAC Commercial Brokerage is pleased to present an extraordinary opportunity to purchase 3424, 3428, and 3440 Motor Avenue, three (3) contiguous parcels comprising +/-36,864 square feet of developable land with +/-23,570 square feet of leased existing improvements, in Los Angeles’ Palms neighborhood.
Located within Los Angeles’ MU(EC) zone, the site offers in-place income that combine for a projected +/-$675,000 in annual net operating income (+/-$653,000 NOI for 2021). Investors can leverage the existing net cash flow while creating value through entitlement and development of the allowable development options under the Exposition Corridor Neighborhood Transit Plan. All leases include 3% annual increases and expire on December 31, 2023.
This is a rare opportunity to purchase a large transit-oriented, residential mixed-use development opportunity on Los Angeles’ Westside submarket. The location benefits from immediate proximity to the 10 and 405 Freeways, Palms Metro Expo Line Station, as well as proximity to major employers in the surrounding major tech, entertainment and media industries including Sony Pictures Entertainment, Amazon Studios, Apple, Fox Studios, and many more.
Documents:
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Offering Memorandum
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Location
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