Property Detail

Description

Rare opportunity in the desirable Echo Park/Westlake area, conveniently located near Downtown Los Angeles and Dodger Stadium, with easy access to the 101, 10, 5, and 110 freeways. The property is ideally situated near shopping, dining, entertainment, public transportation, and major employment centers. This offering presents an exceptional opportunity for investors and developers seeking an income-producing asset with significant additional development potential in a highly desirable and centrally located Los Angeles market. Vacant Lot 1: APN 5419-024-005 | Approx. 6,178 SF | $395,000 Vacant Lot 2: APN 5419-024-006 | Approx. 6,165 SF | $395,000 Vacant Lots Total: Approx. 12,343 SF Access: Vacant lots are accessed via Fairbanks Place The two adjacent vacant lots (APNs 5419-024-006 & 5419-024-005) may be purchased together with the rear portion of 1427 Laveta Ter, creating a substantial development opportunity. Existing 6-Unit Property: • Building Size: Approx. 6,546 SF • Existing Lot Size: Approx. 10,260 SF • Combined Land Opportunity: Approx. 22,603 SF • Asking Price: $1.299M (6 units)+ $395K(vacant lot) + $395K(vacant lot) Investor & Developer Opportunity: Income-producing 6-unit property combined with two adjacent vacant lots, offering potential for future development and long-term value creation. Excellent central Los Angeles location with convenient freeway access and proximity to Downtown LA and Dodger Stadium. Buyer to independently verify all property information, zoning, development potential, lot dimensions, access, and allowable uses with the appropriate agencies. Seller needs to do 1031 Exchange at cost to the Buyer