We are proud to exclusively present for sale a 6 Unit + RTI ADU Residential Building with tremendous redevelopment potential in the Historic Filipinotown area of Echo Park! The property currently features a six unit building on an oversized lot with 9 single car garages. The sellers have an RTI / Approved Plan Check to convert the four garages in front into a 2 Bedroom, 2 Bathroom Accessory Dwelling Unit (ADU). With 8,287 SF of R4-1 Tier 1 land, and backing up to a 20 foot wide alley, a developer could build 70+/- units by ED-1. There are long terms tenants; the property will be delivered fully occupied with no relocation agreements. A new owner will need to talk to tenants after close of Escrow. The property is perfect for redevelopment into a market rate project or preferably a 100% Affordable Housing project! With just a 15 minute walk to the Metro Subway Station at MacArthur Park, rest assured that limited (or no) parking should not affect a project in this very pedestrian friendly area. With easy access to the 101 and 110 freeways, this property is centrally located to benefit from what Downtown, Silver Lake, Echo Park, Hollywood, Koreatown and more have to offer! Designated as Very Walkable, Excellent Transit and Bikeable by Walk Score, come build a place your future tenants truly can call home! This high-demand area is in the middle of everything that younger professionals are looking for! Square footage, bedrooms and bathrooms includes the RTI ADU as it will be built. CAP and GRM take into account the budget of $150,000 to build the ADU.
|
DAYS ON MARKET
|
131
|
LAST UPDATED
|
10/15/2024
|
|
YEAR BUILT
|
1948
|
COMMUNITY
|
Downtown L.A.
|
|
COUNTY
|
Los Angeles
|
STATUS
|
Active
|
|
PROPERTY TYPE(S)
|
Residential Income
|
|
|
| AREA |
Downtown L.A. |
| LOT |
8289 sq ft |
| LOT DIMENSIONS |
50x165 |
| STORIES |
2 |
| ZONING |
R4-1 Tier 1 |
We respect your online privacy and will never spam you. By submitting this form with your telephone number
you are consenting for Ben
Salem to contact you even if your name is on a Federal or State
"Do not call List".
Listed with Keller Williams Beverly Hills
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 11/26/24 2:48 AM PST and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
This IDX solution is (c) Diverse Solutions 2024.
Save favorite listings, searches, and get the latest alerts
Save your favorite listings, searches, and receive the latest listing alerts
Twitter
Facebook
Email