315 N Alvarado Street

    Los Angeles (City), CA 90026
    • $1,499,000
    • STATUS: Active
    • ON SITE: 66 days
    • ID#: 19537816
    UPDATED: 51 min ago
    $1,499,000
    • 0
      BEDS
    • 0.19
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Vacant Land / Lots
    County:

    School Ratings & Info

    Description

    Premier Development Opportunity in Thriving Westlake & Echo Park The current opportunity is to develop approximately 36 apartment units under Los Angeles's new Transit Oriented Communities (TOC). This measure requires the City Planning to create incentives for all housing developments located within a one-half mile radius of a major transit stop. Due to the proximity to the Temple & Alvarado St Metro stop, this development qualifies for TOC Tier 2. Density Bonus incentives include an additional 11 feet in height and 45% increase in FAR, 60% increase in the number of buildable units, a decrease in setbacks and open space requirements, along with a reduction in parking now only requiring 0.5 spaces per unit; no more than 1 required per unit. This 8,456 square foot lot will come with 2 vacant units. This offering is located in a thriving, development-heavy neighborhood, presenting an opportunity for developers looking to build a new multifamily project.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-02-24T12:26:45.073. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty, LA Harbor. Licensed in the State of California, USA.

    www.sellinglasouthbay.com/homes/101828252

    315 N Alvarado Street Los Angeles (City), CA 90026

    • Price: $1,499,000
    • Status: Active
    • Updated: 51 min ago
    • ID#: 19537816
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.19
    Acres
    Neighborhood:
    671 - Silver Lake
    County:
    Los Angeles
    Area:
    671 - Silver Lake
    Property Description
    Premier Development Opportunity in Thriving Westlake & Echo Park The current opportunity is to develop approximately 36 apartment units under Los Angeles's new Transit Oriented Communities (TOC). This measure requires the City Planning to create incentives for all housing developments located within a one-half mile radius of a major transit stop. Due to the proximity to the Temple & Alvarado St Metro stop, this development qualifies for TOC Tier 2. Density Bonus incentives include an additional 11 feet in height and 45% increase in FAR, 60% increase in the number of buildable units, a decrease in setbacks and open space requirements, along with a reduction in parking now only requiring 0.5 spaces per unit; no more than 1 required per unit. This 8,456 square foot lot will come with 2 vacant units. This offering is located in a thriving, development-heavy neighborhood, presenting an opportunity for developers looking to build a new multifamily project.
    Exterior Features

    Lot Size Source Assessor Lot Size Units Square Feet View None View YN No

    Property Features

    Special Listing Conditions Standard Zoning Lar4

    Listing provided courtesy of John Cleator of James Capital Advisors, Inc. and William James of


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-02-24T12:26:45.073. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty, LA Harbor. Licensed in the State of California, USA.

     
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