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351 Patton Street,  Los Angeles CA, 90026

(Active)
$3,600,000
|
|
MLS# TR24091934
Last Updated: 5/20/2024 1:32 PM
Description for 351 Patton Street Los Angeles, CA 90026
Nestled in Los Angeles City and in the vibrant community of Echo Park, we are pleased to present 351 and 359 Patton St (APN 5160-004-016 & -017)-an exceptional opportunity for investors or developers seeking a prime development location. Pattons contiguous double lot boasts a combined lot size of 11,643 square feet with R4 base density, offering ample space and flexibility for various development programs such as ED1 (executive directive 1, TOC (transit-oriented communities), DB Density (density bonus), or build by rights! Future developers can utilize the lot area totaling 12,043 SF when accounting for one half of the alley. With a generous by right height allowance of 75 and DB/TOC of 86, developers may choose to max out Pattons potential with ED1s streamlined ministerial approval process and build affordable housing on this nearly flat lot. Take advantage of favorable site conditions such as transformers/poles located across the street, paved alley, and numerous new multifamily developments in its immediate vicinity. With rising costs of construction and hard costs, a great way to hedge is to purchase an optimal site with limited shoring and excavating required. 351-359 Patton is also clear of any oil wells, environmental roadblocks, and tenant relocations conditions. AB 2097 also offers developers the chance to limit or eliminate parking requirements. Inquire today about how to make Echo Park a safe and thriving community!
Price
$3,600,000
Los Angeles
TR24091934
Active
Description
Nestled in Los Angeles City and in the vibrant community of Echo Park, we are pleased to present 351 and 359 Patton St (APN 5160-004-016 & -017)-an exceptional opportunity for investors or developers seeking a prime development location. Pattons contiguous double lot boasts a combined lot size of 11,643 square feet with R4 base density, offering ample space and flexibility for various development programs such as ED1 (executive directive 1, TOC (transit-oriented communities), DB Density (density bonus), or build by rights! Future developers can utilize the lot area totaling 12,043 SF when accounting for one half of the alley. With a generous by right height allowance of 75 and DB/TOC of 86, developers may choose to max out Pattons potential with ED1s streamlined ministerial approval process and build affordable housing on this nearly flat lot. Take advantage of favorable site conditions such as transformers/poles located across the street, paved alley, and numerous new multifamily developments in its immediate vicinity. With rising costs of construction and hard costs, a great way to hedge is to purchase an optimal site with limited shoring and excavating required. 351-359 Patton is also clear of any oil wells, environmental roadblocks, and tenant relocations conditions. AB 2097 also offers developers the chance to limit or eliminate parking requirements. Inquire today about how to make Echo Park a safe and thriving community!
Listing Information
Property Type: Land, Other
0.27 Acres Assessor
Public,See Remarks
Neighborhood
Room Information
Exterior / Lot Features
0 Covered Parking Spaces,
Mountain, Panoramic, Other, City
LACW
0-1 Unit/Acre
Driving Directions
TEMPLE AND PATTON
Financial Considerations
5160004016
Cash,Conventional,Contract,1031 Exchange,Owner May Carry
Listing Price History

Los Angeles Real Estate

Los Angeles is located in California. Los Angeles, California 90026 has a population of 3,956,168.

The median household income in Los Angeles, California 90026 is $69,839. The median household income for the surrounding county is $73,262 compared to the national median of $66,222. The median age of people living in Los Angeles 90026 is 38 years.

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Listing Agent: Vincent Truong CalDRE: 02012064 - A + Realty & Mortgage, 626-941-4921
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The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) 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. Any information relating to a property referenced on this web site comes from CRMLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this website. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This content last refreshed on 5/20/2024 1:32 PM CST. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Information is deemed reliable but is not guaranteed.

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