1130 W Sunset Boulevard

  • Los Angeles

  • $9,750,000
  • Acres
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Lot/LandDetails

Description & Essential
Description
Prime Echo Park Opportunity! Echo Park is an Eastside neighborhood with vibrant street murals and a lively nightlife scene. Surrounded by Dodger Stadium, Elysian Park, Angelino Heights and Chinatown Central Plaza, the area is booming. Brought about by the Chinatown Metro Line and the Transit Oriented Communities Affordable Housing Incentive Program, there are several new developments with hundreds of apartment units and thousands of square feet of retail in all phases of construction. The subject property is within a half-mile radius of the Chinatown Metro Red Line which is a vast transit community. The City of Los Angeles has officially given 1130 W. Sunset Blvd. a TIER TWO STATUS. Tier Two Status means: a 60% increase in residential density, a 30% decrease in the required width or depth of one individual yard or setback, a 45% increase in Floor Area Ratio, one parking spot per unit, regardless of the number of bedrooms in the unit or a 20% reduction in the nonresidential parking requirement Effective September 22, 2017, the City of Los Angeles instituted the Transit Oriented Communities Affordable Housing Incentive Program. This program allows developers to build significantly more units within Transit-Oriented Communities. Provided the developer dedicates nine percent (9%) of the units to affordable housing. Obtaining lots 6 & 7 located at 1132 W. Sunset. Blvd. (which separate part of the subject property) would add another 6,000 sq.ft. to a new development project.
Essential
MLS #RS18191909
Price$9,750,000
Lot Square Feet≈ 33,000
CountyLos Angeles
StateCA
ViewNone
AreaC03 - Sunset Strip - Hollywood Hills West
ZoneC2-1VL, ZI-2129
StatusActive
Sale TypeStandard
Listing BrokerageAll California Brokerage Inc
Listing AgentFrank Sergi
Listing Agent BRE #01232040

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Based on information from California Regional Multiple Listing Service, Inc. as of Tuesday, August 14, 2018. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.