Property Detail

Description

We are pleased to exclusively present a 1.27+/- Acre Development Opportunity on E. Olympic Boulevard in East Los Angeles. The property offers a rare combination of scale, flexible land use, and prominent 5 (Santa Ana) Freeway and Olympic Boulevard frontage, creating varied opportunities for Commercial, Multifamily, and Mixed-Use Development. Offered at around $72 per Square Foot of Land, the vacant, level site is located within the Metro Area Plan's East Los Angeles Community Standards District, benefiting from the County's updated development framework adopted in 2024. The property mainly carries a General Commercial (C-3) land use / zoning designation, which permits commercial development up to 1.0 FAR and residential or mixed-use development at 2050 dwelling units per net acre, with additional density potentially available through applicable state density bonus programs. However, the property is surrounded by Major Commercial (C-M) land use designation land to the immediate south, east and west, which permits far higher density of 30-150 dwelling units per net acre and a FAR of 3.0. Around 10% of the square footage is zoned R-3 (Residential). The property occupies a high-visibility corridor along E. Olympic Blvd., with frontage extending the whole block from Hicks Ave. to Ditman Ave. The site is immediately adjacent to the 5 Freeway, at the Ditman Ave. eastbound onramp and offramp, and is very visible to cars on the freeway and Olympic Blvd. On average, approximately 237,000 to 244,000 vehicles per day pass the site on the 5 Freeway, providing exceptional exposure for future residential and / or commercial developments on site. Consider a broad range of retail, restaurant, grocery, medical, and service-oriented uses, some available By Right and some requiring a Conditional Use Permit. The site's substantial frontage, freeway visibility, and surrounding population makes it particularly well positioned for a prominent Retail or Mixed-Use Project. Or consider the Affordable Housing route and maximize density, helped by the Bus network, with a stop currently just in front of the property. Bring your ideas and make them a reality on this blank canvas! Listing includes two APNs: 5242-006-018 & 5242-006-005.