Prime Multifamily Development Opportunity – Pico Union, Los Angeles Flexible Development Potential (Affordable or Market-Rate) The site is well-suited for either 100% affordable housing or a mixed-income/market-rate multifamily development, offering optionality to align with investor strategy and prevailing market conditions. Significant Density Upside via State & Local Incentives Under California AB2334 and City of Los Angeles ED1 programs, affordable housing developers may achieve uncapped density, along with substantial height and FAR bonuses, enabling maximization of unit yield. Attractive By-Right Density Bonus for Market-Rate Development Pursuant to California AB1287, developers can obtain up to a 100% density bonus by-right by designating 30% of base units as affordable. Compelling Unit Economics Estimated ~47 units achievable by-right under AB1287 (including 7 affordable units) Preliminary plans for 59 units, highlighting additional design and entitlement upside Infill Site with Immediate Development Potential Currently improved as a parking lot with ~30 spaces, allowing for efficient site preparation and streamlined redevelopment timeline. High-Visibility Location on Major Thoroughfare Positioned along Alvarado Street, a primary north-south corridor between Olympic Blvd and Pico Blvd, offering strong accessibility and neighborhood connectivity. Excellent Regional Connectivity Located within ½ mile of both the I-10 and I-110 Freeways, providing convenient access to Downtown Los Angeles and the broader metropolitan area. Strong Urban Submarket with Proven Demand Situated in Pico Union, immediately west of Downtown Los Angeles, a dense, supply-constrained neighborhood experiencing ongoing multifamily development and revitalization.