$2,450,000 Price Analysis   ♡   Los Angeles, CA 90026 Unknown bed 0 bath unknown SqFt ($0/SqFt) 0.29 acre lot. Listed 2024-06-04, Taxes $28,569 | Ⓧ USDA Ineligible due to property near Los Angeles |
801-809 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 unque opportunity for a developer to acquire 12, 678 SF lot zoned C2-1VL in a Tier 2 TOC offered at a low price per SF of $193.801-809 N Alvarado St offers an investor a multifamily development opportunity with over 115 feet of frontage on N Alvarado St, which attracts over 33, 000 vehicles per day.An investor could build 32 units by right or utilize the TOC density increase and build up to 55 units; ownership currently has preliminary plans for a 55-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.The double lot is currently vacant; no tenant relocation required.High Walk Score of 93, 801-809 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, Westlake and Silver Lake, close proximity to retail along Sunset Blvd as well as the LA Downtown Medical Center.
801-809 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 unque opportunity for a developer to acquire 12, 678 SF lot zoned C2-1VL in a Tier 2 TOC offered at a low price per SF of $193.801-809 N Alvarado St offers an investor a multifamily development opportunity with over 115 feet of frontage on N Alvarado St, which attracts over 33, 000 vehicles per day.An investor could build 32 units by right or utilize the TOC density increase and build up to 55 units; ownership currently has preliminary plans for a 55-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.The double lot is currently vacant; no tenant relocation required.High Walk Score of 93, 801-809 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, Westlake and Silver Lake, close proximity to retail along Sunset Blvd as well as the LA Downtown Medical Center.
Presented by Neema Ahadian at
Marcus & Millichap.
Property MLS #24-399991 from TheMLSCLAW
Lot Size Square Feet: 12678
Calculated Total Monthly Association Fees: 0
County: Los Angeles
Directions: Located on Alvarado St, between Sunset Blvd and the 101 Freeway and two blocks away from the Echo Park Lake.
Source Property Type: Land
Area: Silver Lake - Echo Park
Source Neighborhood: Silver Lake - Echo Park
Parcel Number: 5402-037-004
Postal Code Plus 4: 3102
Zoning: LAC2
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $unknown + $2,400,000 $2,400,000 | $28,569 |
| 2021 | $107,067 + $321,211 $428,278 | $5,612 |
| 2020 | $105,970 + $317,918 $423,888 | $5,662 |
| 2019 | $103,893 + $311,685 $415,578 | $5,455 |
| 2018 | $101,856 + $305,574 $407,430 | $5,348 |
| 2017 | $99,859 + $299,583 $399,442 | $5,237 |
| 2016 | $97,901 + $293,709 $391,610 | $5,103 |
| 2015 | $96,431 + $289,298 $385,729 | $5,663 |
| 2014 | $94,543 + $283,632 $378,175 | $5,068 |
| 2013 | $94,116 + $282,351 $376,467 | $5,068 |
| 2012 | $92,271 + $276,815 $369,086 | $5,133 |
| 2010 | $90,462 + $271,388 $361,850 | $5,037 |
| 2009 | $90,000 + $270,000 $360,000 | $4,863 |
| 2009 | $89,786 + $269,360 $359,146 | $4,863 |
| 2008 | $110,263 + $275,659 $385,922 | $5,062 |
| 2007 | $108,101 + $270,254 $378,355 | $4,897 |
$2,450,000
TheMLSCLAW
Listing removed 2024-01-10
$0
TheMLSCLAW
Price Changed 2023-11-20
$7,995,000
TheMLSCLAW
Listed 2023-08-23
$10,500,000
TheMLSCLAW
Sold 2021-12-09
$4,250,000
Public Record
Listing removed 2016-07-26
$2,499,000
CRMLS
Listed 2016-07-05
$2,499,000
CRMLS
Sold 2003-01-28
$350,000
Public Record
Listing removed 1998-05-02
$280,000
ITECH
Sold 1997-11-25
$280,000
Public Record
Listed 1997-06-10
$280,000
ITECH
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.