Key Details

Property Type Vacant Land

Sub Type Other Residential Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID CNSR23064891

Lot Size 6,979 Sqft

Property Sub-Type Other Residential Land

Source CRISNet

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

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Building

Water District - Public

Others

Tax ID 5406027023

Special Listing Condition Not Applicable

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JLee Broker

+1(650) 857-1000

Broker License ID: 00851314

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859 Centennial ST Los Angeles, CA 90012