2741 Beverly Boulevard
2741 Beverly Boulevard
$900,000
9,119 / 0.21
Sold 7/28/23
Description
We are pleased to present a development opportunity located at 2741 Beverly Boulevard in the Westlake neighborhood of Los Angeles, proximate to Koreatown, Silver Lake, Echo Park, and Downtown Los Angeles. The property qualifies for 100% affordable development, eligible for ED-1 and sits on 2 parcels totaling 9,119 square feet of land that is zoned C2 with a TOC Tier 2 incentive. There is currently a vacant 1,380 square foot commercial structure that was built in 1950 and was most recently occupied...We are pleased to present a development opportunity located at 2741 Beverly Boulevard in the Westlake neighborhood of Los Angeles, proximate to Koreatown, Silver Lake, Echo Park, and Downtown Los Angeles. The property qualifies for 100% affordable development, eligible for ED-1 and sits on 2 parcels totaling 9,119 square feet of land that is zoned C2 with a TOC Tier 2 incentive. There is currently a vacant 1,380 square foot commercial structure that was built in 1950 and was most recently occupied by a medical tenant. The structure also recently had some fire damage to the interior. With the current structure being delivered vacant and not having any residential component to it, there will not be any relocation of tenants or any rent control restrictions on the redevelopment. The lot allows up to 22 units by right, 37 units with the density bonus, and potentially up to 46 by designing up for ADU conversions (Buyer to verify with their architect and City). There are no current entitlements or plans for redevelopment, so this is a completely blank slate for any investors that have interest in this high traffic and densely populated neighborhood of Los Angeles. With over 1,953 proposed units in the pipeline to be delivered by 2024 and 875-units currently under construction, the Westlake submarket has been experiencing significant growth and interest from developers. Ideally situated between downtown LA and Echo Park, Westlake has been rapidly gentrifying with hip galleries, Latin eateries and bars springing up throughout the neighborhood.
- Listed by Sevak Keshishian • DRE #01887505 • Brokerage DRE #01240999 • Marcus & Millichap
Property Details for 2741 Beverly Boulevard
Zoning
LAC2
Parcel Number5156020016
AreaSilver Lake (671)
Lot Size Area9119
Source Lot Size AreaAssessor
Assessor Parcel Number5156-020-016
DirectionsThe property is situated West of North Alvarado Street and North of West 3rd Street.
Location
LISTING UPDATED: 07/28/2023 02:25 PM
Property Details for 2741 Beverly Boulevard
Status | Sold |
---|---|
MLS # | 22-193317 |
Days on Market | 301 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Land |
MLS Type | Land Lot |
Year Built | - |
Lot Size | 0.21 AC |
County | Los Angeles County |
Location
Building Information for 2741 Beverly Boulevard
Lot Size0.21 AC
Payment Calculator
$5,478 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 2741 Beverly Boulevard
Property History for 2741 Beverly Boulevard
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 2741 Beverly Boulevard
Taxable ValueLand$510,000Additions$20,400Total$530,400
Tax Record2023$6,790 ($566 / month)
Home Facts
Total Finished SqFt1,380 SqFtAbove Grade Finished SqFt1,380 SqFtStories1Lot Size4,562 SqFtStyleFinancial BuildingYear Built1950ZoningLAC2CountyLOS ANGELESAPN5156-020-016
Schools near 2741 Beverly Boulevard
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 1 | |||
Public - | 2 to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Lake Street Primary School PublicK to 1 | ||
Rosemont Avenue Elementary School Public2 to 5 | ||
Virgil Middle School Public6 to 8 | ||
Contreras Learning Center-School Of Social Justice Public9 to 12 |
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.
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