2526 Daly Street, Los Angeles, CA 90031 (MLS # 26744455)

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PRICE $850,000 SIZE 1,716 sqft LOT SIZE 7,645 sqft Request More Info Schedule a Showing

We are pleased to present 2526 Daly Street, a 3-unit retail property located in the heart of Lincoln Heights. Constructed in 1920, this 1,716 square foot commercial building is situated on a 7,644 square foot lot with LAC4 zoning. The property currently features Martha's Kitchen (744 SF) and Le Nails (905 SF), with one unit (355 SF) to be delivered vacant at closing (square footages are approximate and should be verified by Buyer). This vacancy presents a unique opportunity for an owner-user or investor to occupy the space or lease at market rents. The asset is efficiently operated with tenants responsible for utilities and common area maintenance (CAM), resulting in minimal landlord expenses. The property also includes 14 on-site parking spaces at the rear with recently resurfaced asphalt, and the roof was recently replaced. The existing tenants are on month-to-month leases and have remained current on rent. Beyond its in-place income, the property offers significant redevelopment potential. Based on preliminary zoning analysis, the site is well-positioned for a high-density mixed-use development, incorporating ground-floor commercial with residential units above. The property is located within a TOIA Tier 2 area and may qualify for incentives under the City of Los Angeles Affordable Housing Incentive Program (AHIP), including increased floor area and reduced or eliminated parking requirements (Buyer to verify). The site is also located within a designated Opportunity Zone, providing potential tax advantages for qualified investors. Due to the site's Q-condition, 100% residential development is not permitted; however, a mixed-use project that incorporates affordable housing may still qualify for AHIP incentives and achieve increased density. A preliminary yield study indicates the potential for up to 64 residential units. This figure represents a theoretical maximum based on assumed unit sizes and efficiency, and actual unit count will vary depending on unit mix, design, and final architectural massing. All development potential is subject to City approvals, incentive eligibility, and compliance with applicable overlays, including the Community Design Overlay (CDO). The property is ideally located between East Avenue 26 and North Broadway, benefiting from strong local and commuter traffic patterns. Daly Street experiences approximately 6,0009,000 vehicles per day, with convenient access to Avenue 26 (18,000+ VPD) and North Broadway (22,000+ VPD), providing excellent connectivity and steady traffic flow. The surrounding area offers access to a wide range of retail, dining, parks, and schools, along with immediate access to the 5 and 110 freeways, making it an attractive location for both residents and businesses.