We are proud to exclusively present for sale a Development Opportunity in the last undeveloped lot overlooking the Echo Park Lake! The property comes with a Letter of Determination for a 15 Unit, 22,739 SF Residential Building with 30 subterranean parking spaces and the potential to add one ADU. The LOD requires one VLI unit. Situated directly across the street from the Echo Park Lake and steps to the shopping district on Sunset Blvd., this site is poised to join the most desirable properties in the area commanding some of the highest rents around. Take in a show at the Echoplex, grab a craft beer at Mohawk Bend, or wine at El Prado, get an espresso at Woodcat, stop by the hipster flea market at Taix, ride the Swan Boats at the lake, catch a game at Dodger Stadium, hop on a Metro Bike and head to Downtownthis neighborhood attracts people from far and wide. Sitting on a slope, and facing the lake, the views of and over the lake will not be obstructed. The beautifully designed concept project has been crafted to use the rise of the hillside and has been thought out for the potential for co-living, with most units being 5 bedrooms and most bedrooms having private bathrooms. The concept project has also been thought out with the possibility of a Condo-Conversion and the 1,010 SF Common Room is perfect for an Additional Dwelling Unit. With a large central courtyard, two parking spaces per unit and an abundance of bicycle parking, this concept project should rent quickly once it hits the market. Downtown views, a Walkers Paradise (per Walk Score) with nightlife, restaurants, live entertainment and the hard part of dealing with the CDO for the LOD done, the rest is easy. The Concept Plans have not been submitted to Plan Check. Transaction includes 3 APNs: 5404-005-001, 5404-005-002 and 5404-005-003.
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.
