312 N Coronado St
Los Angeles, CA 90026
Land For Sale · 0.13 AC

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. Five (5) additional concessions or incentives are granted under the State Density Bonus program. There is potential to stack these incentives with other programs such as TOC or the Los Angeles Density Bonus program, Buyer to verify. 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 (Buyer to verify that there is no RSO to replace when it was demolished). 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 in a core market of Los Angeles.