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    616 N Alvarado Street

    Los Angeles (City), CA 90026
    • $945,000
    • STATUS: Active
    • ON SITE: 56 days
    • ID#: 21705626
    Price Reduced
    UPDATED: 66 min ago
    $945,000
    • 0
      BEDS
    • 0.13
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Vacant Land / Lots
    County:

    School Ratings & Info

    Description

    2nd PRICE REDUCTION!!! We are proud to present 616 N Alvarado St, a 5,863sf Tier 1 TOC LACM/CR zoned site. The site is primed for a local developer to take advantage of the TOC density bonus incentives while building a high yield new construction development that is located along the dynamic Alvarado St. Located along one of the up-and-coming corridors in the heart of Echo Park, the neighborhood is experiencing a resurgence of development, creative offices, and numerous businesses placing a foothold in this proven marketplace. As a new development site, the land is zoned CM/CR and is situated within a Tier 1 TOC designation. According to LA City and TOC guidelines, a developer may have the opportunity to build 20 units by utilizing the Tier 1 TOC density bonuses. The current owner has a Letter of Determination in hand for a smaller development. With no improvements currently on-site, a developer will save on project costs by eliminating any need for demolition and relocation costs. Multiple development projects are underway by prominent multi- family housing and creative office developers. 616 N Alvarado St central location will provide tenants the benefits of being within walking distance of one of Los Angeles' premier music venues (The Echo), numerous restaurants/bars/nightclubs, Echo Park Lake, and just a stones throw away from Silverlake.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-11T09:35:50.217. 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 Realty ONE Group Empire. Licensed in the State of California, USA.
    www.bestsocalhomesearch.com/homes/115118786
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    616 N Alvarado Street Los Angeles (City), CA 90026

    • Price: $945,000
    • Status: Active
    • Updated: 66 min ago
    • ID#: 21705626
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.13
    Acres
    Neighborhood:
    671 - Silver Lake
    County:
    Los Angeles
    Area:
    671 - Silver Lake
    Property Description
    2nd PRICE REDUCTION!!! We are proud to present 616 N Alvarado St, a 5,863sf Tier 1 TOC LACM/CR zoned site. The site is primed for a local developer to take advantage of the TOC density bonus incentives while building a high yield new construction development that is located along the dynamic Alvarado St. Located along one of the up-and-coming corridors in the heart of Echo Park, the neighborhood is experiencing a resurgence of development, creative offices, and numerous businesses placing a foothold in this proven marketplace. As a new development site, the land is zoned CM/CR and is situated within a Tier 1 TOC designation. According to LA City and TOC guidelines, a developer may have the opportunity to build 20 units by utilizing the Tier 1 TOC density bonuses. The current owner has a Letter of Determination in hand for a smaller development. With no improvements currently on-site, a developer will save on project costs by eliminating any need for demolition and relocation costs. Multiple development projects are underway by prominent multi- family housing and creative office developers. 616 N Alvarado St central location will provide tenants the benefits of being within walking distance of one of Los Angeles' premier music venues (The Echo), numerous restaurants/bars/nightclubs, Echo Park Lake, and just a stones throw away from Silverlake.
    Exterior Features

    View City Lights View YN Yes

    Property Features

    Listing Agreement Seller Reserved Listing Service Full Service Senior Community YN No Special Listing Conditions Standard Zoning Lacm/Cr

    Listing provided courtesy of Casey Lins of Re/Max Estate Properties and Scott Rosenberg of Re/Max Estate Properties


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-11T09:35:50.217. 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 Realty ONE Group Empire. Licensed in the State of California, USA.
     
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