13
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$900,000
Est. payment /mo
5,839 Sqft Lot
Active Under Contract
312 N Coronado St Los Angeles, CA 90026
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UPDATED:
09/23/2024 05:23 PM
Key Details
Property Type Vacant Land
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID 24-385523
Lot Size 5,839 Sqft
Acres 0.134
Property Description
We are pleased to present a 5,837 square foot (SF) vacant lot located at 312 N Coronado Street in Los Angeles, California. The subject property is located in a good South Echo Park location just down the street from Echo Park Lake, north of Temple Street and west of Alvarado Street. This offering is positioned on one (1) parcel totaling 5,837 square feet (SF) of land with a zoning ordinance of LAR3-1VL. This allows for seven (7) units by-right. Additionally, this offering is granted ED1 eligibility, a recently passed program that allows an expedited process to 100% affordable developments. If used in conjunction with the State Density Bonus code 65915-65918, an ED1 project would have no maximum density, an allowance of three (3) additional stories, thirty-three (33) additional feet in height, and no parking requirement due to AB 2097. There is also potential to subdivide the lot to build around five (5) SLO homes. The subject property is currently a flat, vacant lot ready for immediate entitlements. The site was demolished in 2017, there are no residential units to replace. Tenants will enjoy being within close proximity to Dodger Stadium, Echo Park, Paramount Pictures Studios, and Chinatown. This, in conjunction with easy access to major employment hubs via the -101 and -110 freeways, attracts an ideal market for young professionals. Positioned in a good South Echo Park location, this offering presents an excellent opportunity for an astute developer to capitalize on maximizing density and income with ED1 or implementing a small-lot subdivision in a core market of Los Angeles.
Location
State CA
County Los Angeles
Area Silver Lake - Echo Park
Zoning LAR3
Exterior
View Y/N Yes
View City
Building
Lot Description Redevelopment Area, Value In Land, Single Lot
Others
Special Listing Condition Standard
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Listed by Marcus & Millichap