166 Douglas St, Los Angeles, California, United States | Residential Land For Sale at GLOBAL LISTINGS

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Residential Land For Sale

$4,000,000

166 Douglas St
Los Angeles, California, United States

Listed By: Realtyww Info

Listed On: 06/20/2023

Listing ID: GL9964217 View More Details

Description

We are proud to exclusively present for sale a 39 Residential Unit Shovel-Ready Development Opportunity in Echo Park. Situated on Douglas St., off Colton St. and a block from Vista Hermosa Natural Park, this 9, 600 SF CW Tier 1 lot is ready to break ground! Currently the property is a Vacant Lot - so no relocations needed and no Rent Control to worry about. Close Escrow and start construction right away! The main Plan Check is already RTI, and the MEP are quickly moving along! Consisting of thirty-two 1+1s, five 2+1s, and two 3+1s, four of the units will be dedicated to Extremely Low Income residents. The Rec. Room and Gym can potentially be converted to Two separate ADUs. The design calls for apartments to have their own outside space, and share a communal roof deck on the 8th floor with unobstructed views.The Project includes 27 car parking spaces and 44 bicycle parking spaces; the property is about a mile away from the Metro Subway Station and surrounded by high speed Bus Lines. Echo Park is one of LA's most quickly-evolving neighborhoods, home to fine dining, fast dining, all types of shopping, music venues, night-life destinations and renowned late-night taco trucks, among most things that young professionals are looking for in a neighborhood they wish to call home. Echo Park is famous for its growing community of young creatives, artists, and musicians. Easy access to the 101 and 110 freeways will take your future tenants to all corners of Los Angeles, and the very close proximity to DTLA opens up many possibilities for everyone! Listing includes two APNs: 5160-014-012 and 5160-014-013.

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Listed by: Keller Williams Beverly Hills