1322 West Maryland Street

Los Angeles, CA 90017

$5,200,000
Price
8,114 / 0.19
Lot Size / Acres

Description

We are excited to present 1322 Maryland St, a 100% affordable, RTI (Ready-to-Issue) development project to build 121 units located in the Westlake neighborhood of Los Angeles, which is just a few minutes South of Echo Park and West of Downtown. The project consists of 119 one-bedroom units, 2 two-bedroom units, and 8 stories. The building is made up of 5 stories of Type III-A over 3 levels of Type I-A, and there are no parking requirements. This will help reduce both the time and cost to build. The...We are excited to present 1322 Maryland St, a 100% affordable, RTI (Ready-to-Issue) development project to build 121 units located in the Westlake neighborhood of Los Angeles, which is just a few minutes South of Echo Park and West of Downtown. The project consists of 119 one-bedroom units, 2 two-bedroom units, and 8 stories. The building is made up of 5 stories of Type III-A over 3 levels of Type I-A, and there are no parking requirements. This will help reduce both the time and cost to build. The developer has the option to rent to Section 8 tenants, which could result in higher rents. Upon completion, the building is projected to generate $230,603 per month, amounting to $2,767,236 annually, from the scheduled covenant rents. If all units are rented to Section 8 tenants, the monthly revenue is expected to increase to $292,130, resulting in an annual income of $3,505,560. The offering is located in Central Los Angeles and combines residential and commercial living. It is surrounded by Silver Lake to the north, Downtown to the southeast, and Pico-Union to the southwest, with Koreatown to the west. The area has a rich history, having developed primarily in the 1920s. The area has since undergone a transformation, with many of its historic mansions now converted into apartments. As a result of high demand for housing in this dynamic and ever evolving part of the city, new multi-family buildings have been constructed.
  1. Listed by Filip Niculete • DRE #01905352 • Brokerage DRE #01240999 • Marcus & Millichap
  2. Listed by Glen Scher • DRE #01962976 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 1322 West Maryland Street

Zoning
LACW
Parcel Number
5152002011
Area
Downtown L.A. (C42)
Lot Size Area
8114
Source Lot Size Area
Vendor Enhanced
Potential Usage
Apartment Building
Assessor Parcel Number
5152-002-011
Directions
Maryland & Bixel

Location

Listing Courtesy of Marcus & Millichap, Filip Niculete, DRE #01905352; Marcus & Millichap, Glen Scher, DRE #01962976
Add your commute
LISTING UPDATED: 05/29/2024 12:01 AM

Property Details for 1322 West Maryland Street

StatusActive
MLS #24-394763
Days on Market27
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeLand
MLS TypeLand Lot
Year Built-
Lot Size0.19 AC
CountyLos Angeles County

Location

Listing Courtesy of Marcus & Millichap, Filip Niculete, DRE #01905352; Marcus & Millichap, Glen Scher, DRE #01962976
Add your commute

Building Information for 1322 West Maryland Street

Lot Size0.19 AC

Payment Calculator

$30,189 per month

30 year fixed, 7.25% Interest

Principal and Interest

$28,379

Property Taxes

$1,810

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1322 West Maryland Street

Community / Development
Community / Development
  • Senior Community: No
Structure Info
Structure Info
  • View: No
  • View Description: None
  • View: None
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Land / Lot Info
Land / Lot Info
  • Special Zoning: None
  • Lot Acreage: 0.1863
  • Lot Size Square Feet: 8114
  • Telephone: 1.0
  • Cable: 1.0
  • Possible New Zone: RC5
Parking Details
Parking Details
  • Total Parking: 0
Exterior Features
Exterior Features
  • New Construction: No
Lease Terms
Lease Terms
  • Entry Date: 05-21-2024

Property History for 1322 West Maryland Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1322 West Maryland Street

Taxable ValueLand$1,700,000Additions$50,520Total$1,750,520
Tax Record2023$21,721 ($1,810 / month)
Home Facts
Total Finished SqFt4,976 SqFtAbove Grade Finished SqFt4,976 SqFtLot Size8,111 SqFtStyleQuadraplexYear Built1922ZoningLACWCountyLOS ANGELESAPN5152-002-011

Schools near 1322 West Maryland Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
John H. Liechty Middle School
Public6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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1322 West Maryland Street is a 0.19 ac of land for sale in Los Angeles, CA 90017. This property was listed for sale on May 21, 2024 by Marcus & Millichap, it's currently listed at $5,200,000. It has been on the market for a total of 27 days and was last sold on September 28, 2022. This listing's school district is Los Angeles Unified School District. Nearby schools include Gratts Learning Academy For Young Scholars (Glays), John H. Liechty Middle School and Contreras Learning Center-Los Angeles School Of Global Studies. 1322 West Maryland Street is a 0-bed, 0-bath, 0.19 ac of land on a 8,114 sq. ft. / 0.19 acres lot.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap, Filip Niculete, DRE #01905352; Marcus & Millichap, Glen Scher, DRE #01962976

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the 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. For the avoidance of doubt, 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.