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329-335 S Rampart Blvd is a multifamily development opportunity located just south of W 3rd St on the border of Westlake & Koreatown. The double lot totals 16,262 SF zoned R4-1 in a Tier 2 TOC offered at a low price per SF of $178 at the asking price. The double lot is currently vacant; no tenant relocation required. High Walk Score of 93, 329-335 S Rampart Blvd is located one mile from the Metro Red and Purple Lines and steps to multiple Metro Local Line bus stops at W 3rd St & S Rampart Blvd. Central location that is beneficial for residents that commute throughout the city with close proximity to employment hubs in Downtown Los Angeles, Koreatown, Westlake, Silver Lake, and Hollywood. The rental market continues to grow, illustrated through the plentiful new developments currently under construction in the area such as the Belle on Bev at 1800 Beverly Blvd (243 units), K-Town Place at 668 S Coronado St (122 units), and 1999 Apartments at 1999 W 3rd St (137units), among others.
PartnersCRE is proud to present for sale a fully entitled ED1-vested 22 unit 100% Affordable Housing Project in a gentrifying Low-Density neighborhood.Designed with low cost efficiencies in mind, this 3-story partially stacked on-grade design featuring 22 x 1BR+1BA units (for a total of around 12,780 SF of rentable space), along with a large office space and bike storage.Zero parking spaces will allow a developer to avoid the high cost of on grade or subterranean parking in this Very Walkable neighborhood with Excellent Transit (according to Walk Score of 89 "Very Walkable").The future potential income from this project will benefit from access to HCD Schedule 6 (20% of total units) and TCAC Schedule 9 (80% of the total units), which are currently standard in Los Angeles for 100% Affordable Projects. Additionally, the location of this property may attract Section 8 voucher tenants increasing the potential income by around 20% for each unit.Westlake is one of the more centrally located parts of LA within close proximity to Echo Park, Silverlake, Downtown LA, Larchmont Village, and many more prominent locations.
ATTENTION: DEVELOPERS AND INVESTORS! Location, Location and Location! First time on the market in 32 years! Property zoned C2-1 with an 8,150 sq ft lot. Great potential to add 2 additional ADU or redevelop the property. Transit Oriented Communities (TOC) Tier 2 and Executive Directive 1 (ED 1) eligible. A true golden opportunity to redevelop in one of the fastest growing and highly desirable neighborhoods. Located in the Westlake/Echo Park/Downtown area! This property is located near mass transit, coffee houses, restaurants, bars, museums, theatres, galleries, parks and everything else that L.A. has to offer. Stunning City and DTLA skyline views buyer to do their due diligence prior to submitting offer. For marketing package requests email listing agent.
Priced Reduced! Motivated Seller! SB8 Clearance, Phase 1 report, and a land survey are available upon request. First time on the open market in almost 40 years! This development opportunity features 6,467 SF of land with alley access, in sought after Westlake just South of Beverly Blvd. The property will be delivered fully vacant with SB8 excluded and no relocation of tenants necessary. This investment presents a developer the opportunity to purchase land in the coveted Silverlake Adjacent, located steps from Echo Park. The parcel is zoned R3-1 and located in a Transit Oriented Community Tier 1, allowing a developer to build up to ~9 large units at a low price per sf of $139. Additionally, the Los Angeles Transit Oriented Density bonus can be used to build up to ~14 units. The subject property is centrally located within the heart of Westlake and Filipinotown. This parcel is a hidden gem in a gentrifying area surrounded by new developments. This site is located with close proximity to food destinations, bars, coffee shops, retail stores as well as Downtown LA, Silverlake, and K-Town. Buyer to do their own due diligence regarding possibilities for development. Property inspection subject to accepted offer. Please do not contact the owner as the property is exclusively listed.
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