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- LoopNet Team
1661 Allesandro St
Los Angeles, CA 90026
3 Parcels - Large Corner Lot ± 21,157 SF · Land For Sale
·
0.49 AC
INVESTMENT HIGHLIGHTS
- 21,157 square-foot hard corner lot facing busy Glendale Boulevard on the border of Silver Lake & Echo Park
- Existing improvements include ~3,228 SF commercial building (vacant) w/ large parking lot and 2 small SFRs
- CM-1VL / Tier 1 TOC (Build up to 27 units by-right or 41 units with Tier 1 TOC - BUYER TO VERIFY)
- Located 0.5 miles north of Sunset Blvd / 1 mile south of 365 Whole Foods anchored center / Quick access to the 2, 5, and 101 FWYs
PROPERTY FACTS
| Property Type | Land | Total Lot Size | 0.49 AC |
| Property Subtype | Commercial | ||
| Zoning | CM-1VL | ||
| Property Type | Land |
| Property Subtype | Commercial |
| Total Lot Size | 0.49 AC |
| Zoning | CM-1VL |
DESCRIPTION
The Brandon Michaels Group of Marcus & Millichap has been selected to exclusively market for sale 1661-1667 Allesandro Street & 2210 Effie Street, a unique investment or development opportunity on the border of two of LA’s most sought after neighborhoods – Silver Lake and Echo Park. 1661-1667 Allesandro Street & 2210 Effie Street is comprised of three parcels totaling 21,157 square feet of land zoned CM-1VL / Tier 1 TOC (Buyer to verify). The existing improvements include a vacant, ~3,228 square-foot commercial building fronting Glendale Boulevard and two small single family residences along Effie Street, separated by a sizeable parking lot. By right zoning allows for up to 27 developable units, and up to 41 units utilizing the Tier 1 TOC benefits. The subject property sits on a hard corner facing Glendale Boulevard, and offers easy access to both the 2, 101, and 5 Freeways. The subject property is also situated just south of the Silver Lake Reservoir and less than a mile north of coveted Sunset Boulevard. The area boasts impressive demographics, with a population of 1,144,403 within a 5 mile radius and an average household income of $107,591 within a 1 mile radius. The immediate area is experiencing ongoing growth and development, as evidenced by new projects such as 70 apartment units near completion 1 block north at 1750 Glendale Boulevard and “The Cliffs” – 18 brand new small lot homes located 3 blocks north of the subject property. 1661-1667 Allesandro Street & 2210 Effie Street is being offered to the market for $4,100,000 ($193/SF).
