900 N Alvarado Street, Los Angeles, CA 90026 (MLS # 24382391)
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We are proud to exclusively present for sale a large commercial building in Echo Park perfectly suited for a Creative Office space, a restaurant or bar, with tremendous visibility and generous parking, just two blocks to the Echo Park Lake! Also available is a designer Construction Project for the site. The existing building has been used for years by United Independent Taxi, a source of income that could remain during the planning stages. With over 6,000 SF of space plus 30 parking stalls, the property can be adapted to many different uses. The property is in a tremendously pedestrian-friendly location; Walk Score calls the area a Walker's Paradise! With Vons, Lassens and the coming Sprouts Market a very short distance away, most day-to-day needs can be accomplished on foot. The Metro Subway Station is a short 30 minute walk, but the area is surrounded by buses and with very easy access to the 101 and 110 freeways. Come to Prime Echo Park, the center of a dining, nightlife, shopping and hospitality enclave that young professionals are looking for! Or build a Meticulously designed to be the stand-out of the area, this 47 Unit + 5 ADU Potential Project will have the bells and whistles that demanding tenants expect from a Class A design! With a high barrier to entry and rents close to $6 PSF, this is a great pocket to build in! The Project, so far, includes two levels of subterranean parking, and AB 2097 allows for the elimination of part or all parking levels to streamline construction and bring in the Project with significant savings. The Project will consist of mostly 1+1s, with eight 2+2s and one 3+2. All ADUs will be 1+1s. 5 units will be reserved for Extremely Low Income. Purchase this Project with 801 Alvarado St., a 55 Unit Project a block away. Two APNs are included on this listing: 5404-004-026 & 5404-004-002
| DAYS ON MARKET | 14 | LAST UPDATED | 4/19/2024 |
|---|---|---|---|
| YEAR BUILT | 1953 | COMMUNITY | C21 - Silver Lake - Echo Park |
| COUNTY | Los Angeles | STATUS | Active |
| PROPERTY TYPE(S) | Commercial |
| ADDITIONAL DETAILS | |
| AREA | C21 - Silver Lake - Echo Park |
|---|---|
| BUYER'S BROKERAGE COMPENSATION | 2.000 |
| LOT | 0.3444 acre(s) |
| LOT DIMENSIONS | 100x150 |
| STORIES | 1 |
| ZONING | C2-1VL & RD2-1VL Tier 2 |
TOTAL MONTHLY PAYMENT
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