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$3,600,000
Est. payment /mo
0.27 Acres Lot
UPDATED:
09/30/2024 06:45 PM
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID TR24091934
HOA Y/N No
Lot Size 0.267 Acres
Property Description
Nestled in Los Angeles City and in the vibrant community of Echo Park, we are pleased to present 351 and 359 Patton St (APN 5160-004-016 & -017)-an exceptional opportunity for investors or developers seeking a prime development location. Patton’s contiguous double lot boasts a combined lot size of 11,643 square feet with R4 base density, offering ample space and flexibility for various development programs such as ED1 (executive directive 1, TOC (transit-oriented communities), DB Density (density bonus), or build by rights!
Future developers can utilize the lot area totaling 12,043 SF when accounting for one half of the alley. With a generous by right height allowance of 75’ and DB/TOC of 86’, developers may choose to max out Patton’s potential with ED1’s streamlined ministerial approval process and build affordable housing on this nearly flat lot. Take advantage of favorable site conditions such as transformers/poles located across the street, paved alley, and numerous new multifamily developments in its immediate vicinity. With rising costs of construction and hard costs, a great way to hedge is to purchase an optimal site with limited shoring and excavating required. 351-359 Patton is also clear of any oil wells, environmental roadblocks, and tenant relocations conditions. AB 2097 also offers developers the chance to limit or eliminate parking requirements. Inquire today about how to make Echo Park a safe and thriving community!
Future developers can utilize the lot area totaling 12,043 SF when accounting for one half of the alley. With a generous by right height allowance of 75’ and DB/TOC of 86’, developers may choose to max out Patton’s potential with ED1’s streamlined ministerial approval process and build affordable housing on this nearly flat lot. Take advantage of favorable site conditions such as transformers/poles located across the street, paved alley, and numerous new multifamily developments in its immediate vicinity. With rising costs of construction and hard costs, a great way to hedge is to purchase an optimal site with limited shoring and excavating required. 351-359 Patton is also clear of any oil wells, environmental roadblocks, and tenant relocations conditions. AB 2097 also offers developers the chance to limit or eliminate parking requirements. Inquire today about how to make Echo Park a safe and thriving community!
Location
State CA
County Los Angeles
Area C21 - Silver Lake - Echo Park
Zoning LACW
Interior
Fireplace No
Exterior
Community Features Street Lights, Urban
View Y/N Yes
View City Lights, Mountain(s), Neighborhood, Panoramic
Building
Lot Description 0-1 Unit/Acre
Water Public, See Remarks
New Construction No
Others
Senior Community No
Tax ID 5160004016
Acceptable Financing Cash, Conventional, Contract, 1031 Exchange, Owner May Carry
Listing Terms Cash, Conventional, Contract, 1031 Exchange, Owner May Carry
Special Listing Condition Standard
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Listed by Vincent Truong • A + Realty & Mortgage • 626-941-4921
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HomeSmart Realty West
Broker | License ID: DRE#1905908
Broker License ID: DRE#1905908