Location - The subject property is located on one of the most recognizable streets in California - Abbot Kinney. Named by GQ as "The Coolest Block in America" and surrounded by international flagship retails stores and clothing boutiques, art galleries, hotels, restaurants and other nightlife destinations. The street commands some of the highest residential and retail rents in Los Angeles County. Walk Score - 90 (Walker's Paradise), Bike Score - 83 (Very Bikeable). Excellent Market Fundamentals - Extremely high barrier to entry location on one of the last undeveloped lots along Abbot Kinney Blvd. The location enables a developer to capitalize on a sub-market that commands an extremely high rent per square foot, cost per developed unit, and cost per square foot for multifamily development, mixed-use, condos/townhomes and small lot subdivisions. Zoning - The lot is Zoned R3 & C2. C2 zoning allows commercial and residential development and R3 is restricted to residential development. Demographics - Surrounded by multi million dollar single family homes averaging $994,165 in value, and Average Household Income of $130,173 within a half mile radius from the subject property.