1045 Browning Blvd, Los Angeles, CA 90037

Marcus and Millichap is pleased to present a 7,820 square foot (SF) lot located at 1045 Browning Boulevard in Los Angeles, California. The subject property is situated in a great South Los Angeles location, east of Vermont Avenue and north of Martin Luther King Jr Boulevard.
South LA is a large region of Los Angeles made up of the neighborhoods south of Downtown L.A. This area is multi-culturally and economically diverse and offers residents a dense suburban feel in a historic market of Los Angeles. Residents can take advantage of the area’s many food and entertainment spaces within walking distance of the subject properties. The more noteworthy news for the area is the great revitalization plan for South L.A. For the first time in decades, major development projects are underway in South L.A. Most prominently, an incredible state of the art NFL stadium just opened in Inglewood-- and it will be surrounded by a planned community made up of thousands of new homes. But the development wave doesn’t stop there. New restaurants, grocery stores, and shops are in the pipeline for neighborhoods from West Adams to Watts. The county and Metro are teaming up to find a developer to build 492 residential units, a grocery store, theater, and locally-owned restaurants located at 3606 West Exposition Boulevard. The Lucas Museum of Narrative Art, South L.A. Wetlands Park, Hollywood Park, and Magic Johnson Park are some more examples of developments currently underway.
This offering is positioned on one (1) parcel totaling 7,820 SF of land with a zoning ordinance of LAC2-2D-CPIO. This allows for nineteen (19) units by-right. The lot is currently operating as a four (4) unit multifamily property giving a developer income while going through entitlements. Additionally, this offering has the potential for thirty-four (34) units utilizing Tier 3 TOC under the Community Plan Implementation Overlay (CPIO). The TOC benefits include a significant density bonus, reductions to setbacks, reductions to parking, and an increase in the floor to area ratio. This asset is positioned near many great local amenities including the brand new George Lucas Museum, Exposition Park, The LA Coliseum, BMO Stadium, and The Natural History Museum.
Situated in a great South Los Angeles Location, this offering presents an excellent opportunity for any investor or developer to capitalize on a mid-size lot with the potential to build up to thirty-four (34) units utilizing TOC.