$2,800,000
900 N Alvarado Street Los Angeles, CA 90026
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$2,800,000
Est. payment /mo
0.34 Acres Lot
Active
900 N Alvarado Street Los Angeles, CA 90026
UPDATED:
06/06/2024 12:35 PM
Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID CL24399983
HOA Y/N No
Lot Size 0.344 Acres
Acres 0.34
Property Description
900-906 N Alvarado St is a double lot multifamily development opportunity located in the highly sought-after Echo Park neighborhood of Los Angeles.Located on Alvarado St, between Sunset Blvd and the 101 Freeway and two blocks away from the Echo Park Lake. A unique opportunity for a developer to acquire 15,000 SF lot zoned C2-1VL & RD2-1VL in a Tier 2 TOC.900-906 N Alvarado St offers an investor a multifamily development opportunity with over 100 feet of frontage on N Alvarado St, which attracts over 33,000 vehicles per day.An investor could utilize the TOC density increase and build up to 47 units; ownership currently has preliminary plans for a 47-unit project with two levels of subterranean parking, however, a developer could eliminate the parking requirement via AB 2097 (Buyer to verify).Alternatively, there is also potential to achieve unlimited density via AB 2345 and expedited entitlement process through Executive Directive 1 if a 100% affordable housing project is pursued.High Walk Score of 93, 900-906 N Alvarado St is located 1.5 miles from the Metro Red Line and a short stroll to multiple Metro Local Line bus stops along N Alvarado St.Central location that is beneficial for residents that commute throughout the city with close proximity to Downtown Los Angeles, Koreatown
Location
State CA
County Los Angeles
Area Listing
Zoning LAC2
Interior
Fireplace No
Exterior
View Y/N false
View None
Building
New Construction No
Others
Tax ID 5404004026
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Listed by Neema Ahadian • Marcus & Millichap
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