This is a great opportunity for either a developer/investor or an end user. As an end user you can build your dream home in the Elysian Hts section of Echo Park, one of the most highly sought after neighborhoods in L.A. It is already through the permit process and the foundation is already partially built. Current owner had to bail on the project due to finances. Included in the sale are approved plans for a 2250 sq ft 4 bed 3 bath home on this almost 10,000 sq ft lot. Set on a lovely eclectic, rustic street with stunning mountain views and surrounded by very pretty homes, you will be very happy to call this home. Even though you are essentially in the middle of the woods, you are only a 10 minute drive from downtown, and freeway close to all studios, the West side and Pasadena. An estimate has already been provided by a highly competent and respected Echo Park contractor that shows the build can be completed for a price that will make you own it for considerably less than the market value. (they would be buying it themselves if they were not in the middle of moving out of state.) On the other hand, if you are a developer/investor the build can be completed for a price that will net you a very good profit when you sell it. A comparative marketing analysis shows that the completed product will have a value of approximately $2.4 million. If you reach out to me I am happy to share with you all the info necessary to understand how much it will cost you to complete the build and how much the property will be worth once you complete it.
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.
