1306 La Brea AveLos Angeles, CA 90028

Property Details for 1306 La Brea Ave

Year built

1978

Lot size

0.17 AC

Property size (Sq ft)

7,000 SF

Zone code

LAC2

Property type

Retail properties

Property subtype

Parking lots & garages

APN

5548-022-037

APU

5548022037

Description

This exceptional 1.83-acre development site, located at 1306 N La Brea Ave, Los Angeles, CA 90028, presents a unique redevelopment opportunity in the heart of West Hollywood. The property encompasses 79,659 square feet of land and features five existing buildings totaling 46,143 square feet of creative office space, currently zoned C2. The site boasts 554 feet of frontage on North La Brea Avenue, extending to the corner of De Longpre Avenue, offering exceptional visibility and street presence. Its prime location provides easy access to numerous amenities, including restaurants, bars, shopping, and Runyon Canyon. The existing improvements are well-maintained and could generate interim revenue during the entitlement and permitting process. The seller is open to a leaseback through the third quarter of 2025, providing additional time for securing interim tenants. This large-scale development opportunity is situated in a high-demand area with significant potential for multifamily housing, aligning with the Hollywood Community Plan Implementation Overlay (CPIO) and eligible for SB 35, AB 2334, AB 2097, and AB 2011 bonuses. This is a rare chance to acquire a nearly full block of contiguous land in one of Los Angeles' most desirable and rapidly developing neighborhoods. The property's central location offers convenient access to Beverly Hills, the San Fernando Valley, the Westside, and Downtown Los Angeles.

• CAP approach

  CAP return

  Valuation

  6%

  $2,981,423

  6.5%

  $2,752,083

  7%

  $2,555,506

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,354,422

  Geo Method

  $3,354,422

• Alternative Use

  Use

  Valuation

  Residential

  $2,321,485

  Hospitality

  $2,126,468

  Educational

  $1,769,196

  Medical

  $1,830,041

  Retail

  $2,752,083

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.0946

Longitude

-118.344

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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