Opportunity to develop 4 units in uber cool Echo Park south of the 101. The build site is a corner lot with alley access which is appx 6,000 SF zoned R4. Plans call for the development of 4 units no greater than two stories with on grade parking. There will be (2) structures, each structure will contain two 3bd/2ba apts. with balconies and views. Each unit is 1,211 Sq Ft. There are 4 garage spaces and carport. ***Rents are rising and this development will enable the savvy developer to get to market before the larger projects do. Estimated rents for three bedroom units in the area are easily $2,500 month, but much closer to $3,000 per month. That means an estimated $120,000 in gross rental income! Reports and drawings available. See link in Showing Remarks Agents! THERE ARE NO OIL WELLS ON LOT!
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
