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Multi-Family

1272 W Court St

1272 W Court St, Los Angeles, CA 90026

Listing Price: $3,980,000

Lot Size
0.48 acres
Price/Acre
$8,248,194
Land Type
Redevelopment

Investment Overview

The Neema Group of Marcus & Millichap has been selected to exclusively market for sale this prime development opportunity located on West Court Street in the Greater Echo Park Elysian neighborhood within the Westlake District. This central location is walkable to Vista Hermosa Natural Park, provides easy access to US-101 and U-110, and is within one mile of Downtown Los Angeles, Echo Park, and Silverlake. The subject property consists of three consecutive parcels totaling 21,021 square feet and is zoned R4(CW)-75/3-0 in a Tier 1 TOC, providing significant density increase benefits for the development of up to 78 apartment units. The site currently consists of two single-family residences and a duplex. W Court Street is not subject to JJJ and is located in the Central City West Specific Plan and the Los Angeles State Enterprise Zone. The property offers incredible views of the Downtown skyline and surrounding vistas. The Westlake area is rapidly gentrifying and experiencing an influx of new developments, including five recent projects within walking distance of the subject property. Court Street is close to the local bus lines and Metro Red, Purple, A, and E Lines, allowing for a fast commute to many neighborhoods in Los Angeles. The close proximity to schools, transit, restaurants, nightlife, and shopping, this location makes it convenient for residents to commute through the city even without a vehicle. Westlake is the second-most dense neighborhood in Los Angeles County, according to the Los Angeles Times; its rental market continues to thrive as it is in the center of high-growth neighborhoods such as Pico-Union, Koreatown, Echo Park and Downtown Los Angeles.

Investment Highlights

  • 21,021 square foot development lot located in the Greater Echo Park Elysian neighborhood in the Westlake district
  • The subject property consists of three consecutive parcels zoned R4(CW)-75/3-0 in a Tier 1 TOC, providing for significant density increase benefits allowing for the development of up to 78 apartments
  • The site currently consists of two single-family residences and a duplex
  • W Court Street is not subject to JJJ and is located in the Central City West Specific Plan and the Los Angeles State Enterprise Zone. The property offers incredible views of the Downtown skyline and surrounding vistas.
  • The Westlake area is rapidly gentrifying and experiencing an influx of new developments, including five recent projects within walking distance of the subject property

Exclusively Listed By

Listing Price: $3,980,000

Lot Size
0.48 acres
Price/Acre
$8,248,194
Land Type
Redevelopment

Investment Highlights

  • 21,021 square foot development lot located in the Greater Echo Park Elysian neighborhood in the Westlake district
  • The subject property consists of three consecutive parcels zoned R4(CW)-75/3-0 in a Tier 1 TOC, providing for significant density increase benefits allowing for the development of up to 78 apartments
  • The site currently consists of two single-family residences and a duplex
  • W Court Street is not subject to JJJ and is located in the Central City West Specific Plan and the Los Angeles State Enterprise Zone. The property offers incredible views of the Downtown skyline and surrounding vistas.
  • The Westlake area is rapidly gentrifying and experiencing an influx of new developments, including five recent projects within walking distance of the subject property

Investment Overview

The Neema Group of Marcus & Millichap has been selected to exclusively market for sale this prime development opportunity located on West Court Street in the Greater Echo Park Elysian neighborhood within the Westlake District. This central location is walkable to Vista Hermosa Natural Park, provides easy access to US-101 and U-110, and is within one mile of Downtown Los Angeles, Echo Park, and Silverlake. The subject property consists of three consecutive parcels totaling 21,021 square feet and is zoned R4(CW)-75/3-0 in a Tier 1 TOC, providing significant density increase benefits for the development of up to 78 apartment units. The site currently consists of two single-family residences and a duplex. W Court Street is not subject to JJJ and is located in the Central City West Specific Plan and the Los Angeles State Enterprise Zone. The property offers incredible views of the Downtown skyline and surrounding vistas. The Westlake area is rapidly gentrifying and experiencing an influx of new developments, including five recent projects within walking distance of the subject property. Court Street is close to the local bus lines and Metro Red, Purple, A, and E Lines, allowing for a fast commute to many neighborhoods in Los Angeles. The close proximity to schools, transit, restaurants, nightlife, and shopping, this location makes it convenient for residents to commute through the city even without a vehicle. Westlake is the second-most dense neighborhood in Los Angeles County, according to the Los Angeles Times; its rental market continues to thrive as it is in the center of high-growth neighborhoods such as Pico-Union, Koreatown, Echo Park and Downtown Los Angeles.

Exclusively Listed By

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