216 Spring St Los Angeles, CA 90012

This exceptional opportunity presents the chance to acquire a fully entitled multifamily development site at 216 S. Spring St., Los Angeles, CA 90012. Located in the Bunker Hill submarket of Downtown Los Angeles, this 12,784 square foot lot offers a unique chance to build a 120-unit residential development. The property boasts a prime location, just north of Grand Central Market and within walking distance of the Civic Center/Grand Park Metro Station. Nearby parks include Pershing Square and Grand Park, providing residents with ample green space. The existing one-story, 13,900 square foot concrete structure is fully entitled for redevelopment. The project's design thoughtfully caters to the modern city dweller, incorporating the live-work-play model. On-site amenities include 67 parking spaces, a tenant gym, and a rooftop amenity space with a pool. The property is zoned C2-4D and features ground floor retail space, making it an ideal investment for developers seeking a high-return project in a thriving urban environment. The asking price is $5,900,000, and the APN is 5149-007-005. This is a rare opportunity to capitalize on the burgeoning Downtown Los Angeles real estate market.