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2741 Beverly Blvd

Los Angeles, CA 90057
  • $900,000
  • STATUS: Closed
  • ON SITE: 638 Days
  • MLS #: 22-193317
Sold - 07/28/2023
$900,000
SOLD - 07/28/2023
  • 0
    BEDS
  • 0.1
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Vacant Land / Lots
County:

School Ratings & Info

Description

We are pleased to present a development opportunity located at 2741 Beverly Boulevard in the Westlake neighborhood of Los Angeles, proximate to Koreatown, Silver Lake, Echo Park, and Downtown Los Angeles. The property qualifies for 100% affordable development, eligible for ED-1 and sits on 2 parcels totaling 9,119 square feet of land that is zoned C2 with a TOC Tier 2 incentive. There is currently a vacant 1,380 square foot commercial structure that was built in 1950 and was most recently occupied by a medical tenant. The structure also recently had some fire damage to the interior. With the current structure being delivered vacant and not having any residential component to it, there will not be any relocation of tenants or any rent control restrictions on the redevelopment. The lot allows up to 22 units by right, 37 units with the density bonus, and potentially up to 46 by designing up for ADU conversions (Buyer to verify with their architect and City). There are no current entitlements or plans for redevelopment, so this is a completely blank slate for any investors that have interest in this high traffic and densely populated neighborhood of Los Angeles. With over 1,953 proposed units in the pipeline to be delivered by 2024 and 875-units currently under construction, the Westlake submarket has been experiencing significant growth and interest from developers. Ideally situated between downtown LA and Echo Park, Westlake has been rapidly gentrifying with hip galleries, Latin eateries and bars springing up throughout the neighborhood.

Sold by Connie Kim BRE#01887505 of eXp Realty of California Inc.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2024-06-12T13:43:19.79. 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.
www.searchdesertrealestate.com/homes/133026440
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2741 Beverly Blvd Los Angeles, CA 90057

  • Price: $1,050,000
  • Status: Closed
  • On Site: 638 Days
  • Updated: 116 min ago
  • MLS #: 22-193317
0
Beds
0
Baths
0
½ Baths
0.1
Acres
Neighborhood:
Silver Lake - Echo Park
County:
Los Angeles
Area:
Silver Lake - Echo Park
Property Description
We are pleased to present a development opportunity located at 2741 Beverly Boulevard in the Westlake neighborhood of Los Angeles, proximate to Koreatown, Silver Lake, Echo Park, and Downtown Los Angeles. The property qualifies for 100% affordable development, eligible for ED-1 and sits on 2 parcels totaling 9,119 square feet of land that is zoned C2 with a TOC Tier 2 incentive. There is currently a vacant 1,380 square foot commercial structure that was built in 1950 and was most recently occupied by a medical tenant. The structure also recently had some fire damage to the interior. With the current structure being delivered vacant and not having any residential component to it, there will not be any relocation of tenants or any rent control restrictions on the redevelopment. The lot allows up to 22 units by right, 37 units with the density bonus, and potentially up to 46 by designing up for ADU conversions (Buyer to verify with their architect and City). There are no current entitlements or plans for redevelopment, so this is a completely blank slate for any investors that have interest in this high traffic and densely populated neighborhood of Los Angeles. With over 1,953 proposed units in the pipeline to be delivered by 2024 and 875-units currently under construction, the Westlake submarket has been experiencing significant growth and interest from developers. Ideally situated between downtown LA and Echo Park, Westlake has been rapidly gentrifying with hip galleries, Latin eateries and bars springing up throughout the neighborhood.
Exterior Features

Lot Size Area 9119 View Description None View YN No

Property Features

Cable YN No Disclosures None Inclusions Apn: 5156-020-017 is included in This Sale. Sale Type Standard Source Lot Size Area Assessor Zoning Lac2

Listing provided courtesy of Sevak Keshishian DRE#01887505 of Marcus & Millichap: 818-212-2700.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2024-06-12T13:43:19.79. 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.
 
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