Active

900 N Alvarado St

Los Angeles CA, 90026

$2,800,000


$186.67 per sqft

Active

0.34 Acres

Land

900-906 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 unique opportunity for a developer to acquire 15,000 SF lot zoned C2-1VL & RD2-1VL in a Tier 2 TOC.900-906 N Alvarado St offers an investor a multifamily development opportunity with over 100 feet of frontage on N Alvarado St, which attracts over 33,000 vehicles per day.An investor could utilize the TOC density increase and build up to 47 units; ownership currently has preliminary plans for a 47-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.High Walk Score of 93, 900-906 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, a short stroll to retail along Sunset Blvd as well as the LA Downtown Medical Center.The rental market continues to grow, illustrated through the plentiful new developments currently under construction in the area such as 2225 W Sunset Blvd (176 units), 3004 W Sunset Blvd (74 units), and Inspire Echo Park at 355 Glendale Blvd (90 units). APNs: 5404-004-026 & 5404-004-002

24-399983

MLS ID

June 4, 2024

Listed

July 13, 2024

Updated

Map

900 N Alvarado St
Los Angeles CA, 90026

Exterior/Building Features

Lot Size

0.34 Acres

Other Property Details

Area Name

Silver Lake - Echo Park


Days on Market

16


Garage

No


View

No


View Description

None


County

Los Angeles


Pool

No


Zoning

LAC2

Listed by Neema Ahadian with Marcus & Millichap
Listing Contact: 310-909-5444 

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Louise Leach | CA DRE# 01774966 shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2024 Combined L.A./Westside MLS. All rights reserved.

Data last updated 7/13/2024

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