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1614-1626 W Temple St 0.39 Acres of Commercial Land Offered at $3,425,000 in Los Angeles, CA 90026
Investment Highlights
- Advantageous C2-1 zoning for multifamily redevelopment – Combined with Tier 2 TOC and the property could be able to yield ±69 units
- Echo Park is rich in walkable and drivable amenities
- Mid-rise construction product will be cheaper to build than high-rise construction
- Echo Park is a proven multifamily market with justifiable high rents
- Property is Executive Directive 1 (ED 1) eligible with the potential to build ±125 units
- Consistent shortage of affordable housing across Los Angeles will keep demand for this product type high
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $3,425,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Commercial |
| Sale Condition | Redevelopment Project | Proposed Use | Apartment Units |
| No. Lots | 1 | Total Lot Size | 0.39 AC |
| Zoning | LAC2 | ||
| Price | $3,425,000 |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Apartment Units |
| Total Lot Size | 0.39 AC |
| Zoning | LAC2 |
1 Lot Available
Lot
| Price | $3,425,000 | Lot Size | 0.39 AC |
| Price Per AC | $8,782,051.28 |
| Price | $3,425,000 |
| Price Per AC | $8,782,051.28 |
| Lot Size | 0.39 AC |
Description
PRICE REDUCTION (NEW PRICE: $3,425,000) 1614 W Temple Street is an opportunity to redevelop much needed housing in an area where multifamily housing prospers. The Temple Street corridor has seen several market rate projects of this size in the past, so this opportunity is far from pioneering. Should a developer choose the affordable housing (ED 1) route, they will benefit from the ability to build significantly more units. The location of this future redevelopment property is in the ideal multifamily rental market of Echo Park. With proximity to premiere business districts like Hollywood and Downtown Los Angeles and prime amenity driven neighborhoods like Silver Lake and Koreatown, 1614 W Temple St has everything to offer. In its more immediate location, the frontage and positioning on Temple Street provides a plethora of walkable amenities while still being close to the freeway system.
Property Taxes
| Parcel Number | 5159-022-035 | Improvements Assessment | $442,758 |
| Land Assessment | $1,812,070 | Total Assessment | $2,254,828 |
Property Taxes
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1614-1626 W Temple St
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