Description
Massive Price Drop! We are proud to exclusively present for sale a designer Construction Portfolio with 107 Residential Units two blocks to the Echo Park Lake! Each Project is meticulously designed to be the stand-out of the area, with 801 N. Alvarado St. consisting of 55 Units and 900 N. Alvarado St. consisting of 52 Units (made up of 47 + 5 ADUs). Both Projects will have the bells and whistles that demanding tenants expect from a Class A design! With a high barrier to entry and area rents higher than $5 PSF, this is a great pocket to build in! Each building will have common areas with views, with 900 N. Alvarado St. having units with private common spaces and recreation rooms, a co-working room, a Leasing Office and Bike Room, all accessed from a comfortable lobby; the spaces designated for future ADUs are in addition to the listed spaces. The 900 N. Alvarado Project will consist of mostly 1+1s, with eight 2+2s and one 3+2. The 801 N. Alvarado Project will consist of mostly 1+1s, with twelve 2+2s and six singles. Each Project will have 5 units reserved for Extremely Low Income. 900 N. Alvarado is RSO Exempt and 801 N. Alvarado will be delivered vacant. The Projects, as of now, include two levels of subterranean parking. Per AB2097, each Project's Entitlements have already received a Clarification Letter from the Dept. of City Planning granting permission for the Buyer to remove any, or all, of the subterranean parking resulting in cheaper construction costs and a faster project buildout. 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. Come to Prime Echo Park, the center of a dining, nightlife, shopping and hospitality enclave that young professionals are looking for! This listing includes two sites each consisting of two APNs. 801 N. Alvarado St.: 5402-037-003 & 5402-037-004. 900 N. Alvarado St.: 5404-004-026 & 5404-004-002.
Location
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Listing Agent: Dario Svidler
Listing Office: Keller Williams Beverly Hills
Attribution contact:
