Lot for Sale in Los Angeles, CA 90036 – 1 Bedroom, 1 Bath – $4150000

HUGE $800K Price Reduction! MUST CLOSE BY 12/10. SELLER WILLING TO DO SELLER CARRY. Prime redevelopment opportunity! ~9,888 SF corner lot, steps from the Wilshire/La Brea Metro Station (anticipated Q4 2025). High visibility, Located in the CHIP Transit Oriented Incentive Area (TOIA) 3 and Opportunity Corridor Incentive Area OC-3, offering additional housing incentives. This corner lot has potential for an 8-story mixed-use development with up to 90 units and 4,200 SF of retail space and/or restaurant (subject to buyer verification). As a vacant lot, there are no existing tenants to relocate or replace. Situated in the heart of Los Angeles’ vibrant Miracle Mile, 601 S. La Brea Avenue offers a rare ~9,888-square-foot corner lot in one of the city’s most dynamic and high-traffic corridors. Located steps from the upcoming Wilshire/La Brea Metro Station (expected to open in Fall 2025), this prime vacant parcel benefits from exceptional visibility, with over 75,000 vehicles per day and significant pedestrian traffic. Surrounded by Hollywood, West Hollywood, Melrose, Fairfax, Hancock Park, Beverly Grove, and Koreatown, the site is immersed in a bustling hub of mixed-use developments, Class-A offices, and premier retail and dining destinations like Republique and Leopardo. Positioned within a Transit Oriented Communities (TOC) Tier 4 zone, and designated Tier 3 under the City’s Housing Element Incentive Program (CHIP Ordinance/TOIA), the lot offers flexible zoning and development incentives, including no parking requirements and no height restrictions, making it ideal for multifamily, retail, or mixed-use projects. Nearby attractions such as LACMA, La Brea Tar Pits, and The Grove draw a steady stream of locals and tourists, while the area’s dense population of over 40,000 within a one-mile radius and an average household income exceeding $120,000 underscores its strong investment potential. This is a generational opportunity to acquire a premier vacant lot in a rapidly evolving Los Angeles corridor. 601 S. La Brea Avenue is strategically located at the corner of 6th Street and La Brea Avenue, adjacent to major developments, including a proposed 250-unit hotel/residential project and the highly anticipated Metro D Line expansion connecting Downtown LA to Westwood by 2026. The property’s prime location, high visibility, and proximity to cultural and entertainment hubs make it an ideal canvas for developers and investors seeking to capitalize on the area’s growth trajectory. Potential for an 8-story mixed-use development featuring up to 90 dwelling units and 3,800 square feet of commercial space and/or restaurant space are available, subject to buyer verification and approval by relevant agencies. With advantageous zoning and no restrictive municipal regulations, this corner lot presents unmatched potential for immediate development or long-term investment in one of Southern California’s most sought-after neighborhoods. All information is provided for informational purposes only and is not guaranteed. Buyer to conduct their own due diligence and independently verify all details, including zoning, CHIP eligibility, development incentives, and project feasibility. The lot is currently vacant, eliminating any need for tenant relocation or demolition of existing structures.