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$1,595,000
Est. payment /mo
4,778 Sqft Lot
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID CL26820711
HOA Y/N No
Lot Size 4,778 Sqft
Acres 0.1097
Property Sub-Type Unimproved Land
Property Description
163 N Edgeware Road presents a fully entitled multifamily development opportunity in the Echo Park /City West submarket, just minutes from Downtown Los Angeles. The property is offered with approved plans and approx. 80% of permits paid for a 18-unit plus 2 ADU residential project, allowing a developer to immediately proceed to construction. Fully entitled and permit-paid for 20-unit development.High-density TOC project with reduced parking requirements Efficient 8,710 SF design maximizing rent per SF Only 4 required parking spaces with a potential to add 2additional ADU's (1-1 bed & 1-2 bed) providing additional income upside and a 22 unit project.Eliminates entitlement risk and shortens development timeline. Seller has paid approx. $350,000 to $400,000 in permits, architecture, engineering, expediter, relocation fees.Prime Echo Park / City West location near Downtown LA, located in a supply-constrained, high-demand rental submarket. The unit mix includes studios, loft-style units, and one-bedroom apartments, targeting a broad renter base in a high-demand submarket. The inclusion of ADU's provides additional income with minimal incremental construction cost, further enhancing project returns.With approvals in place, the project offers immediate execution and avoids the uncertainty, time, and expense typically associated with entitlements in Los Angeles.
Location
State CA
County Los Angeles
Zoning LACW
Interior
Fireplace No
Exterior
View Y/N false
View None
Building
New Construction No
Others
Tax ID 5160015002
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Listed by Errol Spiro • Miller & Desatnik Realty Co.
NEARBY SCHOOL & BUSINESS
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