Partners CRE | Keller Williams Commercial are proud to exclusively present for sale a rare large-scale Development Opportunity for this neighborhood!
Douglas | Cortez Development is over an acre of flat land (45,280 SF) in prime South Echo Park / Westlake / City West near booming Downtown LA.
Situated on the corner of Douglas St and Cortez St with nearly 450 feet of frontage along with rear access from Angelina St, the property offers an investor/developer a truly one-of-a-kind development opportunity.
Uniquely perched at the crest of a hilltop, this site and the future development has 360 degree views: looming Downtown LA in one direction, the Hollywood sign, Griffith Park and Observatory in another, all framed by SoCal’s beautiful mountains.
The prime location, just south of the 101 Freeway and minutes from Downtown LA, gives future tenants access to all the dining, culture and entertainment that Echo Park has to offer. The area has undergone a major economic renaissance during the past decade with development as the driving force.
The new apartment and mixed use developments in the immediate area have provided an overwhelming increase in the demand for high end rental units and retail.
The existing property features 27 occupied rent controlled units with a yearly Gross Income of over $370,000.
