Los Angeles CA  home offered at $9,750,000 

Call Lisa DiNoto Group at (909)921-2544 to see this home.

 

1130 W Sunset Boulevard
Los Angeles, California CA 90012
Sold For: $8,500,000
Listing ID: RS18191909
Price/SqFt: $257.58
Status: Closed
Sold Date: 7/25/2022
Acres: 0.758 Acres

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.

Primary Features

County: Los Angeles
Price/SqFt: 257.58
Property Type: Lots and Land
Zoning: C2-1VL, ZI-2129

External

Lot Features: Lot 20000-39999 Sqft
Lot Size Area: 33000
Lot Size Square Feet: 33000
View: no
View Type: None
Water Source: Public

Location

Country: US
Elevation Units: Feet
MLS Area Major: C03 - Sunset Strip - Hollywood Hills West

Additional

Additional Parcels: yes
Association: no
Community Features: Curbs
Days On Market: 611
List Agent State License: 01232040
List Office State License: 02109201
Lot Size Units: Square Feet
New Construction: no
Senior Community: no

Financial

Land Lease: no
Special Listing Conditions: Standard

Zoning Info


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Listed by: FrankSergi, DRE #01232040 from Corcoran Global Living 562-293-2000

Contact - Listing ID RS18191909

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Lisa DiNoto

9483 Haven Ave #100
Rancho Cucamonga, CA 91730
Phone: 9099212544

Data services provided by IDX Broker
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