Permit-Ready 95-Unit ED1 Development Opportunity 419 N Lake St
Los Angeles, CA 90026
For Sale
12,011 sqft
Sale Price
$3,575,000
Property Website
Map
Land For Sale
Get in touch
Adam Peterson
Lic: 1815802
The offering
consists of an entitled 95-unit ED1 project of income-restricted housing on a
±12,011 (±.276ac) double-lot. The seller will deliver the project RTI (ready to issue)
permits upon the close of escrow. Zoned LAR3-1VL, the project was granted
six incentives/waivers including no maximum density. increased FAR, and
decreased setbacks/open space as a result of the project’s ED1 status. The
project contemplates no subterranean parking, is 6 stories in height and offers
a unit mix of studios and 1-bedrooms. Twenty at-grade parking spaces will be
available to tenants along with 74 bicycle spaces and a roof deck lounge.
consists of an entitled 95-unit ED1 project of income-restricted housing on a
±12,011 (±.276ac) double-lot. The seller will deliver the project RTI (ready to issue)
permits upon the close of escrow. Zoned LAR3-1VL, the project was granted
six incentives/waivers including no maximum density. increased FAR, and
decreased setbacks/open space as a result of the project’s ED1 status. The
project contemplates no subterranean parking, is 6 stories in height and offers
a unit mix of studios and 1-bedrooms. Twenty at-grade parking spaces will be
available to tenants along with 74 bicycle spaces and a roof deck lounge.
Echo Park has witnessed significant multifamily development in recent years,
driven by its increasing desirability and proximity to employment centers. The
multifamily vacancy rate remained relatively low at around 5.4% in late 2024,
pointing to consistent demand for rental units in this attractive and well-located
neighborhood near major employment centers.
Silver Lake is a key neighboring market to Echo Park, sharing a similar trajectory
of artistic history, resulting in a strong and competitive multifamily market with
high rental demand and increasing property values. Silver Lake is consistently
one of the most desirable neighborhoods in Los Angeles, leading to very
high demand for rental housing and correspondingly high rental rates. As of
February 2025, average rents for apartments in Silver Lake were generally
comparable to or even slightly higher than those in Echo Park, often exceeding
$3,000 for a one-bedroom unit.
driven by its increasing desirability and proximity to employment centers. The
multifamily vacancy rate remained relatively low at around 5.4% in late 2024,
pointing to consistent demand for rental units in this attractive and well-located
neighborhood near major employment centers.
Silver Lake is a key neighboring market to Echo Park, sharing a similar trajectory
of artistic history, resulting in a strong and competitive multifamily market with
high rental demand and increasing property values. Silver Lake is consistently
one of the most desirable neighborhoods in Los Angeles, leading to very
high demand for rental housing and correspondingly high rental rates. As of
February 2025, average rents for apartments in Silver Lake were generally
comparable to or even slightly higher than those in Echo Park, often exceeding
$3,000 for a one-bedroom unit.
Total Space Available
12,011 sqft
Sale Price
$3,575,000
Get in touch
Adam Peterson
Lic: 1815802