Off-market · Option to purchase · Exposition Park corridor
0.4 miles from the venue hosting the 2028 Opening Ceremony.
A two-building motel campus on a single parcel inside the Figueroa Corridor — and a documented Green Book site.
- Property
- 2901 S. Flower St., Los Angeles, CA 90007
- Parcel
- AIN 512-3019-011
- Structures
- 1946 original / 1970s addition
- Instrument
- Option to Purchase · NCND
The file, at a glance
Every figure below is graded. Confirmed means we pulled the primary record ourselves. Reported means it comes from a credible secondary source and sits in the open-items list until a buyer's counsel pulls it.
Approximately 0.4 miles — a 7–10 minute walk. LA28 Athletics + Opening & Closing Ceremonies.
Single parcel. Two buildings: 1946 original structure plus a 1970s addition. One ownership.
Entity type, registered agent, and authorized signatories pending confirmation via CA SOS filing pull.
Documented Green Book site — later editions, photographed by Candacy Taylor (2016), LA Times coverage.
No HCM designation on record. Designation status and eligibility pending confirmation with the Office of Historic Resources.
Corridor zoning. Hotel and multifamily permitted. TOC tier and FAR require ZIMAS confirmation.
Expo Park/USC station serves the corridor. Market context, not property-specific diligence.
Ownership and signing authority
PendingSigning authority is the threshold question on any option — and one that kills small LA deals more often than price does. It is not yet established here. A CA Secretary of State filing pull is required before option money moves.
The corridor, measured honestly
The Coliseum is the only distance stated as a number: approximately 0.4 miles, a 7–10 minute walk. Every other venue in the cluster is listed by relationship until a routing tool confirms it, because a buyer will check these on a phone in the first meeting.
LA28 venue assignments
Property is understood to sit inside the corridor business improvement district. Membership and assessment pending confirmation with the LA City Clerk.
Market context, not diligence-confirmed: under construction in Exposition Park, a permanent visitation driver independent of the Games.
Market context, not diligence-confirmed: Expo Park/USC station serves the corridor with direct rail to Downtown and Santa Monica.
Market context, not diligence-confirmed: corridor sites in this ring draw interest from national student-housing developers.
Corridor ADR trajectory, 2023–2028
PendingNot modeled. Submarket ADR and RevPAR for the Exposition Park hotel set are not derivable from public data at a standard an institutional underwriter would accept. Closing this requires a licensed STR or CoStar submarket pull — roughly a one-week turn once commissioned. We would rather show this blank than show you a number we invented.
A documented Green Book site
A documented Green Book property in Los Angeles, verified at the address rather than by citation-chasing. The claim is narrow and defensible — which is what makes it usable in front of a designation board.
Astar Motel — 2901 S. Flower St.
The property is a documented Green Book site — listed in later editions of The Travelers' Green Book at this exact street address, not by way of a secondary blog or press citation.
Candacy Taylor, lead researcher on the Getty/CAAM Green Book project, photographed the property as a Green Book site in 2016. The Los Angeles Times has covered the site.
We do not state a count of surviving Green Book properties in Los Angeles. No sourced figure supports one, and an unsourced number is the first thing a designation board or an institutional analyst will pull the thread on.
Listed at 2901 S. Flower St. in later editions of The Travelers' Green Book, photographed by Candacy Taylor in 2016, and covered by the Los Angeles Times. No count of surviving Los Angeles Green Book properties is stated here — we do not publish a number we cannot source.
The property also carries a historical association with the 1947 Black Dahlia case — police reportedly placed Elizabeth Short at Room 3, adding a layer of noir cultural significance. Presented as a reported historical association; not confirmed or disproven here.
Designation cuts both ways — and the timing is controllable
ReportedHistoric designation unlocks Mills Act property tax abatement and the 20% federal historic rehabilitation credit, and it hardens the story that sells a boutique conversion into a 2028 travel market. Designation status and eligibility are pending confirmation with the Office of Historic Resources.
A demolition permit on a survey-identified property likely triggers CEQA historical-resource review — real schedule and cost exposure. Under CEQA Guidelines §15064.5 a property can be treated as a historical resource without formal designation.
The property is not currently protected, so no demolition hold applies today. Same fact, opposite valuations — which is why the sequencing of the designation question is itself a negotiating asset.
Property tax abatement — unlocks on historic designation
20% federal credit on qualified rehabilitation — requires National Register listing
Comparable transactions
Los Angeles hotel sales, price per key, 2025. Market context for pricing bands — not property-specific diligence. A buyer should re-run these against their own data before pricing.
| Asset | Segment | $ / Key |
|---|---|---|
| Hyatt House, El Segundo | Distressed | $105K / key |
| The Line, Koreatown | Distressed | $177K / key |
| Montrose, W. Hollywood | Boutique | $333K / key |
| Maison 140, Beverly Hills | Boutique | $376K / key |
| Surfrider, Malibu | Luxury | $1,875K / key |
Distressed and older Los Angeles assets traded at $105K–$177K per key in 2025. No subject-level per-key figure is stated here: room count and redevelopment rights are unconfirmed, and any valuation applied before those close is an invented number.
- Market context — 2025 Los Angeles hotel sales, not property-specific diligence.
- No subject-level valuation is stated until room count and redevelopment rights are confirmed.
Basis of value — what we will and will not state
The per-key figures above are market context drawn from other assets. No total value is applied to 2901 S. Flower St.: the diligence file does not document a room count for this property, and inventing one to produce a headline valuation is exactly the kind of number a buyer's analyst disassembles in the first meeting.
- Room count — pending site inspection and LADBS records.
- Assessor roll value and transfer history — pending confirmation on AIN 512-3019-011.
- C2/R4 corridor density case — the likely higher basis of value, pending ZIMAS.
A sale triggers Prop 13 reassessment from a long-held basis — a material seller-side friction point that favors an option or installment structure. The corridor density case is underwritten separately once zoning is confirmed.
Deal structure
Two instruments, used together. The seller relationship is held through an assignable Option to Purchase — which creates an equitable interest and requires no California real estate broker license — paired with an NCND and finder's fee agreement.
Option to Purchase — primary instrument
Lowest riskCreates an equitable interest in the property and is assignable without a California real estate broker license. The seller relationship is held through the option; the buyer takes assignment at close.
NCND / Finder's Fee agreement — paired
Lowest riskExecuted alongside the option before any name, address or AIN is disclosed. Fixes the $650,000 flat finder's fee and binds affiliates, funds, principals and successors.
Terms
- Instrument
- Option to Purchase, assignable
- Protection
- NCND executed before any name, address or AIN is disclosed
- NCND term
- 24 months, covering affiliates, funds, principals and successors
- Option period
- 6–12 months
- Finder's fee
- $650,000 flat, payable in full at close of escrow
Conduct protocol
Under Tyrone v. Kelley (1973) 9 Cal.3d 1 a party who introduces buyer and seller without participating in negotiation acts as a finder. Price, terms, timing and financing are handled by licensed counsel and broker of record on both sides. That line is papered and observed literally — it protects the buyer's transaction as much as our fee.
Magic Johnson Enterprises
Urban infill with a community mandate, stadium-adjacent. The Green Book provenance is the asset here: a documented African American traveler safe haven, roughly 0.4 miles from the venue that opens the 2028 Games, preserved rather than erased.
Heritage-forward. Designation is subsidy, not risk — Mills Act abatement and the 20% federal historic rehabilitation credit both attach.
Canyon Partners Real Estate
LA-based institutional capital with an emerging-manager platform. Most probable path is funding a JV operating partner into the corridor rather than a direct acquisition of a single-parcel corridor asset.
Underwrites the corridor and the density case. The history is a differentiator on exit, not the entry thesis.
A fixed number. No ambiguity at close.
This engagement is structured with a flat finder's fee of $650,000, payable in full at close of escrow — not a percentage of purchase price. A fixed fee removes any dispute over what counts toward 'gross purchase price' and protects the finder's compensation regardless of how the final deal is structured (direct purchase, option assignment, or joint venture).
What is closed, and what is still open
Published in full rather than summarized. A buyer's analyst will build this list within a day of receiving the package; showing it first is faster and it is the only version of this document that survives scrutiny.
Closed at primary source
Confirmed- Green Book status — documented site, photographed by Candacy Taylor (2016) and covered by the LA Times
- Parcel identified — single AIN 512-3019-011, two buildings (1946 original + 1970s addition)
- Coliseum proximity — approximately 0.4 miles, a 7–10 minute walk
Open items, ranked by consequence
PendingDetermines demolition risk, CEQA exposure, and which buyer pool is real. Highest-value single confirmation in the file.
No documented key count exists in the file. Until a certificate of occupancy or site count confirms it, no per-key valuation can be applied to this asset.
C2/R4 corridor zoning is the working assumption. If a TOC tier holds, the density bonus likely exceeds the motel and the history combined and reframes this as a land deal.
Nobody can be put under an option until the signing authority is confirmed on the record. Resolve before spending option money.
The parcel must be confirmed closeable, unencumbered, and under one authorized signatory.
Sets the Prop 13 reassessment exposure on sale — a material seller-side friction point that favors an option structure.
Deferred maintenance sets the rehab basis and the motel-value floor.
Separates the motel-value floor from the dirt-value ceiling. Requires site visit.
The hospitality underwriting case. Not modeled from public data — requires a licensed STR or CoStar submarket pull.
Execute the NCND, then we open the file and make the introduction.
The package includes the full research memo, the attorney one-pager, and the primary-source Green Book scan. Site access and a seller introduction follow a signed NCND and a countersigned fee agreement.
thatdamndogg@gmail.com
Confidential. Prepared by LMW Visionaries for institutional review. Not an offer to sell, a solicitation of an offer to buy, or a security. Figures marked reported or pending are unverified and must be independently confirmed. No party to this material is acting as a licensed real estate broker; price and terms are negotiated solely by licensed counsel and brokers of record.