$160M Implied Price for 38.7-Acre Mission Rd Industrial Site

The numbers

The $160M is implied by the recorded documentary transfer tax. It is not a disclosed sale price. The county charges $1.10 per $1,000, and the City of Los Angeles adds Measure ULA tiers of 4% over $5M and 5.5% over $10M, so the price cannot be back-solved from the county rate alone. We did not do that: the figure is the one the Assessor record carries.

• Implied price per acre: about $4.1M, our own arithmetic on $160M and 38.7 acres.
• Current-roll assessed value: $115.1M land and $73.4M improvements, about $188.5M in all, from the Assessor portal. The roll flags the values as multiple base years from combined parcels, and assessed values are not market values.
• Permit 26016-10000-04481, issued Oct. 20, covers interior and exterior tenant improvements to the existing warehouse, structural work at the north basement wall, site access and parking upgrades. Declared valuation: $2.8M.
• Because the parcel record reflects combined parcels, check whether the recorded price also covers other lots before treating $160M as this parcel alone. The wire row lists a single parcel.

For comparison, our earlier look at LA land priced below permit value found sites where recorded land value sat under the permit already issued. Here the permit is small next to the implied price.

What’s next

The recorder’s document 0737283 should identify the parties; the Assessor summary does not. Watch for a larger LADBS filing or a planning case on the lot, since the Assessor shows no zoning code for the parcel in the data we pulled.