This is an extremely unique redevelopment opportunity located on the prime corner of 3rd Street and Alvarado in the Westlake community zone. Subject property is part of the Transit Oriented Community (TOC - Tier 3). There are potential parking variances applicable under Assembly Bill 2097. This retail building is conveniently situated near public transportation with several bus lines. Buildable up to 45,000 sq. ft. with 50+ units. Located in a heavy vehicle and pedestrian foot traffic zone. The area is undergoing significant transformation and is less than three miles from Downtown Los Angeles. Most tenants are month-to-month or on expiring leases. Property is being sold as-is. All brokers and buyers to do their own investigation and due diligence regarding any/all property or land characteristics, including but not limited to square footage, zoning, land usage, permits, etc. Trust Sale subject to a Notice of Proposed Action.