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Multi-Family

3416 1st St

3416 1st St, Los Angeles, CA 90063

Listing Price: $2,000,000

Lot Size
0.23 acres
Price/Acre
$8,594,259
Land Type
Land

Investment Overview

Marcus & Millichap is pleased to list 3416 E 1st Street, a fully entitled 10,137 square foot (0.23 acre) parcel in the Boyle Heights neighborhood of Los Angeles, CA. The property is located on 1st St, in between Lorena and Velasco Streets. Built in 1907, there are currently 2 buildings on the property totaling 3,295 SF, which can be delivered vacant at close of escrow. The property enjoys 70.82 feet of frontage on E 1st St. The property is zoned C2-1CUGU and is in a TOC Tier 3 area. By right the property is allowed 26 units, and 45 units with the TOC 3 density bonus. The property is fully entitled for a 6-story, 38 unit multifamily development. Architectural plans show the development would be Type IIIA - one hour fully supervised, NFPA 13 sprinklered apartment building over 1 level basement garage. The garage will be separated from residential by a three hour fire rated concrete slab. The property also falls under the Adelante Eastside Redevelopment Plan. READ MORE ABOUT THE PLAN HERE. The site is located within the City of Los Angeles Transit Priority Area, Clean Up Green Up (CUGU), State Enterprise Zone, Redevelopment Project Area: Adelante Eastside, and MTA Right-of-Way (ROW) Project Area.

Investment Highlights

  • One of the 5 Best Neighborhoods for Rental Properties with a Propensity Towards Landlord Returns.*
  • One of Los Angeles' Densest Rental Markets - Approximately 80% of Local Population Resides in Rental Housing
  • Currently in the Beginning Phases of Gentrification as More Projects Develop Including the Connection to the Arts District Via the New 6th Street Viaduct

Exclusively Listed By

Financing By

Multi-Family

3416 1st St

Listing Price: $2,000,000

Lot Size
0.23 acres
Price/Acre
$8,594,259
Land Type
Land

Investment Highlights

  • One of the 5 Best Neighborhoods for Rental Properties with a Propensity Towards Landlord Returns.*
  • One of Los Angeles' Densest Rental Markets - Approximately 80% of Local Population Resides in Rental Housing
  • Currently in the Beginning Phases of Gentrification as More Projects Develop Including the Connection to the Arts District Via the New 6th Street Viaduct

Investment Overview

Marcus & Millichap is pleased to list 3416 E 1st Street, a fully entitled 10,137 square foot (0.23 acre) parcel in the Boyle Heights neighborhood of Los Angeles, CA. The property is located on 1st St, in between Lorena and Velasco Streets. Built in 1907, there are currently 2 buildings on the property totaling 3,295 SF, which can be delivered vacant at close of escrow. The property enjoys 70.82 feet of frontage on E 1st St. The property is zoned C2-1CUGU and is in a TOC Tier 3 area. By right the property is allowed 26 units, and 45 units with the TOC 3 density bonus. The property is fully entitled for a 6-story, 38 unit multifamily development. Architectural plans show the development would be Type IIIA - one hour fully supervised, NFPA 13 sprinklered apartment building over 1 level basement garage. The garage will be separated from residential by a three hour fire rated concrete slab. The property also falls under the Adelante Eastside Redevelopment Plan. READ MORE ABOUT THE PLAN HERE. The site is located within the City of Los Angeles Transit Priority Area, Clean Up Green Up (CUGU), State Enterprise Zone, Redevelopment Project Area: Adelante Eastside, and MTA Right-of-Way (ROW) Project Area.

Exclusively Listed By

Financing By

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