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314 Douglas Street

Los Angeles, CA 90026
  • $1,400,000
  • STATUS: Active
  • ON SITE: 35 Days
  • ID#: SR22188493
UPDATED: 63 min ago
$1,400,000
  • 0
    BEDS
  • 0.2
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Vacant Land / Lots
County:

School Ratings & Info

Description

Located equidistant between Downtown Los Angeles and Echo Park, The Douglas RTI Small Lot Project represents a well positioned opportunity to deliver five single family homes at a burgeoning urban setting where there exists little to zero for-sale housing product available. Attainable fee simple homes have become an anomaly in the City of Los Angeles, and we believe this project possesses the components needed to deliver this highly coveted form of housing.The immediate location has undergone significant gentrification over the past six years with the infusion of thousands of new apartment units across about ten newly constructed rate developments. Each of these projects have served change the market landscape considerably in this City West neighborhood of Los Angeles.The Seller has made substantial investments to navigate the project to its currently fully entitled and permit-ready stage. Unique complexities associated with this project specifically are rather uncommon for smaller projects rendering The Douglas even more special as a builder opportunity. One key aspect is the existence of an adjacent 20 alley running the depth of the property. The alley will be improved and utilized as a driveway for each of the five homes and will provide comfortable spacing between the homes and an adjacent apartment building.Navigating the permitting project for The Douglas came at a considerable expense of both time and money due in part to the documentation of two potential oil well heads on the subject site. Coordination with the applicable governing agency (Department of Conservation DOGGR) was required in order to establish an acceptable methodology of disproving their existence (to an acceptable level of certainty to DOGGR) on the subject parcel (this is somewhat common due to the frequent inaccuracy of old well-locating surveys).Currently, all LADBS clearances are complete, and the plans are stamped RTI on each of the five house permits. Additionally, the final tract map has been recorded and the park fees have been paid making the project a "true RTI opportunity. The RTI plans call for five similarly configured three story fee-simple homes + roof decks (homes range between 1,190 and 1,475 SF per zoning code calc.) and two-car garages.

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Based on information from CRISNet MLS as of 2022-10-01T12:57:16.78. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

The information being provided by the CSMAR MLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties the visitor may be interested in purchasing. The data contained herein is copyrighted by CSMAR or one of CSMAR's datashare partners, and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the CSMAR MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

Based on information from the i-Tech MLS as of 2022-10-01T12:57:16.78. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.realestatetoolbox.com/homes/132500423
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314 Douglas Street Los Angeles, CA 90026

  • Price: $1,400,000
  • Status: Active
  • On Site: 35 Days
  • Updated: 63 min ago
  • ID#: SR22188493
0
Beds
0
Baths
0
½ Baths
0.2
Acres
Neighborhood:
C21 - Silver Lake - Echo Park
County:
Los Angeles
Area:
C21 - Silver Lake - Echo Park
Property Description
Located equidistant between Downtown Los Angeles and Echo Park, The Douglas RTI Small Lot Project represents a well positioned opportunity to deliver five single family homes at a burgeoning urban setting where there exists little to zero for-sale housing product available. Attainable fee simple homes have become an anomaly in the City of Los Angeles, and we believe this project possesses the components needed to deliver this highly coveted form of housing.The immediate location has undergone significant gentrification over the past six years with the infusion of thousands of new apartment units across about ten newly constructed rate developments. Each of these projects have served change the market landscape considerably in this City West neighborhood of Los Angeles.The Seller has made substantial investments to navigate the project to its currently fully entitled and permit-ready stage. Unique complexities associated with this project specifically are rather uncommon for smaller projects rendering The Douglas even more special as a builder opportunity. One key aspect is the existence of an adjacent 20 alley running the depth of the property. The alley will be improved and utilized as a driveway for each of the five homes and will provide comfortable spacing between the homes and an adjacent apartment building.Navigating the permitting project for The Douglas came at a considerable expense of both time and money due in part to the documentation of two potential oil well heads on the subject site. Coordination with the applicable governing agency (Department of Conservation DOGGR) was required in order to establish an acceptable methodology of disproving their existence (to an acceptable level of certainty to DOGGR) on the subject parcel (this is somewhat common due to the frequent inaccuracy of old well-locating surveys).Currently, all LADBS clearances are complete, and the plans are stamped RTI on each of the five house permits. Additionally, the final tract map has been recorded and the park fees have been paid making the project a "true RTI opportunity. The RTI plans call for five similarly configured three story fee-simple homes + roof decks (homes range between 1,190 and 1,475 SF per zoning code calc.) and two-car garages.
Exterior Features

Lot Features 0-1 Unit/Acre2-5 Units/Acre6-10 Units/Acre11-15 Units/Acre16-20 Units/Acre21-25 Units/Acre26-30 Units/Acre31-35 Units/Acre36-40 Units/Acre Lot Size Area 8518.0000 View None View YN No

Property Features

Additional Parcels Description 5160007036516000703751600070385160007039 Additional Parcels YN No Association Fee 0.00 Association YN No Community Features GuttersSidewalksUrban Land Lease YN No New Construction YN No Senior Community YN No Special Listing Conditions Standard Water Source Public Zoning Lacw

Listing provided courtesy of Francis Evanisko, CA DRE# 01790747, of Evanisko Realty & Investment: 818-985-9700.


Based on information from CRISNet MLS as of 2022-10-01T12:57:16.78. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

The information being provided by the CSMAR MLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties the visitor may be interested in purchasing. The data contained herein is copyrighted by CSMAR or one of CSMAR's datashare partners, and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the CSMAR MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

Based on information from the i-Tech MLS as of 2022-10-01T12:57:16.78. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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