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OFF MARKET Distressed Properties - View All

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Photo
Property TypeMixed Use
LocationLos Angeles, California
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TitleCurrent 43 Room Hotel with 3 Retail Units/Parking Lot Entitled for 225 Unit Mix Use Luxury High Rise Development Located Blocks to Downtown Los Angeles
Summary

PERFECT FOR NEW LOW RISE ALL AFFORABLE DEVELOPMENT
Lender Owned Defaulted Development of 225 Unit High Rise Blocks to DTLA
Current 2 Story 43 Room Hotel with 3 Retail Units and Parking Lot
20638 SF on 33425 SF Lot - Built 1941
Near 7th Street and Bixel off the 110 Freeway
Great Walk Score Area of 93
Zoned LACW with TOC 3 Ordinance

Details

PREVIOUS DEVELOPMENT DETAILS
This project that was to replace an existing hotel at the corner of 7th St
near DTLA called for the construction of a 25-story edifice featuring
225 residential units with 19 set aside for low-income households,
above a podium structure featuring over 320 parking stalls and
7,200 square feet of commercial ground-floor retail space.
Plans are still available and have been extended
and buyer must verify with the City of LA
NEW CURRENT POSSIBILITIES
Project now perfect for new 100+ unit low
rise affordable unit development

Income and Sales Details

City of LA willing to lease the current hotel for 2 years
Current AS IS appraised value $12,000,000

Asking Price$0.00
Date UpdatedMarch 5, 2025