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- LoopNet Team
1762 Glendale Blvd
Los Angeles, CA 90026
3 VACANT BUNGALOW UNITS + ADU POTENTIAL · Land For Sale
·
7,492.00 AC
INVESTMENT HIGHLIGHTS
- 3 Vacant Detached Bungalow Style Apartments
- C-2 Zoned Lot Buildable to 19 Multifamily Units by Right
- Walk Score of 83
- Pro-Forma Cap Rate at 7.71% +/- with Budget for Unit Remodel and ADU Construction
- ED-1 Eligible for Affordable Housing Development
PROPERTY FACTS
| Property Type | Land | Proposed Use | Multifamily |
| Property Subtype | Residential | Total Lot Size | 7,492.00 AC |
| Zoning | LAC2 - LAC2 and ED-1 with Unlimited Density | ||
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Multifamily |
| Total Lot Size | 7,492.00 AC |
| Zoning | LAC2 - LAC2 and ED-1 with Unlimited Density |
DESCRIPTION
1762 Glendale Blvd is a multifamily property located in the sub-market of Echo Parkin city of Los Angeles. Constructed in 1914, the three detached bungalow style units total 1,943 square feet. The buildings are situated on 7,475 square foot lot, zoned LAC2,with parking for (3) cars. This strategically positioned commercially zoned lot o?ers an incredible opportunity for an investor, developer, or owner/user seeking a prime location in one of the most sought-after neighborhoods in Los Angeles. The property o?ers multiple strategies to add-value. From remodeling the existing vacant bungalow units with potential to build (2) detached 1,200 +/- square foot ADU’s and (1) potential basement conversion to an ADU, to redeveloping the site for multifamily, mixed-use, or a?ordable housing. A developer has potential to build (19) units on the site by-right or develop a 100%a?ordable housing project under Executive Directive 1 (ED-1) with unlimited density.
