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$3,995,000
Est. payment /mo
0.29 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID CL25529955
HOA Y/N No
Lot Size 0.290 Acres
Acres 0.29
Property Sub-Type Unimproved Land
Property Description
We are pleased to present an affordable housing development opportunity at 801-807 Waterloo St, located in the prime Echo Park neighborhood. The 12,613 SF double lot can be delivered fully entitled for 131 income-restricted housing units. The project's prime location offers immediate access to major employment centers, transit, and lifestyle amenities located in both DTLA and Silver Lake, making it ideal for a high-velocity lease up strategy. This presents a rare opportunity for a mission-driven developer to provide high-quality affordable housing in a market with strong demand and a significant supply gap. Plans call for a highly efficient seven-story mid-rise building, utilizing Type III over Type I construction to optimize cost-effectiveness. The completed project will span ~65,000 SF, featuring a well balanced unit mix of 84 singles and 47 one-bedrooms. Additionally, the development includes an office space, multiple open spaces for recreational or supportive services, including a rooftop deck, serving as a communal gathering area with expansive city views. There is a structure in place for a buyer to receive the Welfare Tax Exemption, contact agents for additional details. The site can be delivered RTI after completion of the City plan check process allowing a developer to b
Location
State CA
County Los Angeles
Zoning RD1.
Interior
Fireplace No
Exterior
View Y/N false
View None
Building
New Construction No
Others
Tax ID 5402028023
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Listed by Neema Ahadian • Marcus & Millichap