1506 Glendale Boulevard
Los Angeles, CA 90026
0.12 acres | #SR25105349
Description
Marcus & Millichap is pleased to offer a development site located on a 5300 SF lot at 1506-1508 N Glendale Boulevard in the city of Echo Park. The property sits just near the intersection of Scott Avenue and Alvarado and backs to Liberty Street.
The site is currently improved with a 1153 SF duplex consisting of one bedroom/one bathroom units. The property is in need of renovation and is being sold as land value.
This is a unique opportunity to acquire a C2-IVL mixed use zoned property on a major and popular thoroughfare in Echo Park. The base density allows for 13 units, however, the property will benefit from the Transit-Oriented Community Incentive (TOC-Tier 2), potentially allowing up to 22 units. Further density may be available under the State Density Bonus program for affordable projects. The property is in an Enterprise zone which allows for special exemptions and favorable tax treatment.
The area’s proximity to major employment centers combined with its dining scene, recreational and cultural amenities have made Echo Park an increasingly desirable place to live. The area’s high occupancy rate and the low homeownership rate shows the robust demand for rental properties. This healthy and continuous demand has helped boost asking rents which are expected to continue their upward climb.
Property Details
- Utility FeaturesElectricityConnected, NaturalGasAvailable, SewerConnected, WaterConnected
- Lot DescriptionIrregularLot, NearPark, NearPublicTransit, ValueInLand
- Sewer InformationPublicSewer
- CountyLos Angeles
- Original List Price$1,200,000
- MLS #SR25105349
- MLS #SR25105349
- Property TypePurchase
- Cost1200000
- Acres0.1217
- Property SubtypeLand
Location
Legal
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Katherine Bergh (#F210089588)
Listing Office: Katherine Bergh (#F0644001)
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