616 Alvarado -- Prime Echo Park Development Opportunity. Located at the gateway to Echo Park, just off Sunset Blvd on Alvarado, this completely vacant parcel is ready for a transformative development in one of Los Angeles' most vibrant and desirable neighborhoods. With a combination of CM-1VL-L and CR-1VL zoning, the… Read More site offers diverse development options and strong upside potential:11 units allowed by right, 3:1 FAR under the community plan for mixed-use projects, TOC incentives increase the potential to 18 units. Currently entitled with a TOC Letter of Determination for 12 units with a height increase. Adjacent to a paper alley, offering the opportunity to vacate and expand the lot size. Beyond the numbers, 616 Alvarado benefits from its unbeatable Echo Park location. Just minutes from Echo Park Lake, Sunset Blvd hotspots, and a quick drive to Downtown LA, Silver Lake, and Koreatown, the property is ideally positioned to attract future residents seeking the best of LA living walkable dining, eclectic shops, and a thriving creative community. This site is a rare opportunity to deliver a high-demand project in a neighborhood that continues to grow in both popularity and value. Read Less
Courtesy of Power Brokers 424-738-5900
Listing Snapshot
Days Online
18
Last Updated
Property Type
Other
Beds
15
Lot Size
0.13 Acres
MLS Number
25616161
30 Days Snapshot Of 90026
$1.52M
+30%
(avg) sold price
11
-8%
homes sold
49
-28%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
None
Building
Levels: Multi/Split
Cooling
Central
Disclosures
None
Garage
Gated Underground
Heating
Central
Lot
LotAcreage: 0.1346, LotSizeArea: 5,865
Parking
TotalParking: 10
Property
NumberOfUnits: 12, ViewDescription: City, Panoramic, ViewYN: 1, Zoning: LACR
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