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$1,700,000
Est. payment /mo
6,979 Sqft Lot
UPDATED:
04/25/2023 08:54 PM
Key Details
Property Type Vacant Land
Sub Type Other Residential Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID CNSR23064891
Originating Board CRISNet
Lot Size 6,979 Sqft
Property Description
Welcome to this fantastic building opportunity at 859 Centennial St, Los Angeles, CA 90012! This is an exciting opportunity to purchase a prime R3 development site in the highly sought-after Echo Park neighborhood of Los Angeles just a 3 minute drive to Dodgers Stadium. This property sits on a quiet hill off of Sunset Blvd. The lot is approximately 6,979 sqft in size and zoned R3 & TOC Tier 2, offers a developer the potential to build 15 units using TOC incentives, or 9 units, making it a lucrative investment opportunity. One of the advantages of this property is that it is currently a single-family residence, which means it is not subject to rent stabilization (RSO) regulations. This allows for more flexibility in the development process. The lot boasts approximate dimensions of 50 sqft by 140 sqft and offers stunning views of the Downtown LA skyline, adding to its appeal. The location is also highly desirable, being close to shopping, restaurants, bars, transportation (110 & 10 freeways), and other amenities that Echo Park has to offer, making it an attractive location for potential tenants. The potential for development is versatile, with possibilities for townhomes, fourplexes, condos, or other residential units, offering flexibility to suit different investment strategies. H
Location
State CA
County Los Angeles
Area C21 - Silver Lake - Echo Park
Zoning D0
Exterior
View City Lights
Building
Water District - Public
Others
Tax ID 5406027023
Special Listing Condition Not Applicable
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Listed by Chris Cardoza • Keller Williams Encino/Sherman Oaks
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Joel Martinez
Property Connection Specialist | License ID: 02338033
Property Connection Specialist License ID: 02338033