Description

A unique Signalized corner of Olympic Boulevard and Indiana Street. Ideally located in an Opportunity Zone and State Enterprise Zone. Consisting of 13,365 square feet of land located on the North Signalized corner of Olympic Boulevard and Indiana Street. The subject property benefits from direct freeways access. Ideally located 0.08 miles from the Interstate 5 Santa Ana Freeway. The subject property is owner-user currently operating as a Smog Check, Used Car Sales, Auto Registration, and Auto Repair business. The building consists of a 1,169 square feet commercial building. A portion of the building is rented as Auto repair on a month-to-month lease. Excellent visibility and frontage on one of the best signalized corners in Boyle Heights. This corner benefits from a daily traffic count of 25,000 on Olympic Boulevard and 16,000 on Indiana Street. Excellent ingress and egress from both streets and an alley along the west side of the lot. In addition to the strong daily traffic counts, there is strong foot traffic with a walking score of 83. The area presents an excellent redevelopment or repurpose opportunity for affordable housing. This lot is adjoining a commercial zoned property (amended density zoning regulations apply) meaning the RD1.5 minimum area per dwelling unit applies. The current zone is LAR2-1-CUGU. * Amended by Ord. No. 185,462, Eff. 4/18/18 Through the utilization of the density (adjoining a C2 lot) you can build 9 units by right and up to 12 units with CA density bonus (SB 35). Boyle Heights has a unique combination of attractive price-to-rent ratios, demand, and value, not the least of which makes it one of the best candidates to start adding to a rental property portfolio. Boyle Heights has demonstrated a propensity towards landlord returns, and its potential moving forward is just as attractive. The combination of current indicators and future potential enables Boyle Heights to stand out.

Features

• 1 Story
• Parking Spots: 0.00
• Asset Class: Retail
• Asset Class: Land/Unimproved
• Security Feature: Gated Community
• Roof: Gated Community