Listed by Frank Sergi, Corcoran Global Living,

1130 W Sunset Boulevard

Los Angeles, CA, 90012

$8,500,000

$8,500,000
Sold
Sold
property_type
Land
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.
MLS® ID:
RS18191909
Listed:
8/5/18
Updated:
8/16/22

Exterior/Building Features

Lot Size
0.76 acres lot

Other Property Details

Area Name
C03 - Sunset Strip - Hollywood Hills West
HOA Amenities
Curbs
Garage
No
Parking
N
View
Y
County
Los Angeles
Water Source
Public
Pool
No
Zoning
C2-1VL, ZI-2129

Property History

Date
Event
Price
Value
7/25/22
Sold
-
-
7/25/22
Price Change
$8,500,000
-12%

 

Listed by Frank Sergi, Corcoran Global Living,

Based on information from California Regional Multiple Listing Service, Inc. as of 8/16/22. 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.

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Data last updated 3:25 AM UTC, 8/16/22

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