2741 Beverly Boulevard

Los Angeles, CA 90026

$900,000
Last Sold Price
9,119 / 0.21
Lot Size / Acres

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.
  1. Listed by Sevak Keshishian • DRE #01887505 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 2741 Beverly Boulevard

Zoning
LAC2
Parcel Number
5156020016
Area
Silver Lake (671)
Lot Size Area
9119
Source Lot Size Area
Assessor
Assessor Parcel Number
5156-020-016
Directions
The property is situated West of North Alvarado Street and North of West 3rd Street.

Location

Listing Courtesy of Marcus & Millichap, Sevak Keshishian, DRE #01887505

Sold By eXp Realty of California Inc, Connie Kim, DRE #01354494

Add your commute
LISTING UPDATED: 07/28/2023 02:25 PM

Property Details for 2741 Beverly Boulevard

StatusSold
MLS #22-193317
Days on Market301
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeLand
MLS TypeLand Lot
Year Built-
Lot Size0.21 AC
CountyLos Angeles County

Location

Listing Courtesy of Marcus & Millichap, Sevak Keshishian, DRE #01887505

Sold By eXp Realty of California Inc, Connie Kim, DRE #01354494

Add your commute

Building Information for 2741 Beverly Boulevard

Lot Size0.21 AC

Payment Calculator

$5,478 per month

30 year fixed, 7.25% Interest

Principal and Interest

$4,912

Property Taxes

$566

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 2741 Beverly Boulevard

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: 0.1047
  • Lot Size Square Feet: 9119
  • Telephone: 0.0
  • Cable: 0.0
Parking Details
Parking Details
  • Total Parking: 0
Exterior Features
Exterior Features
  • New Construction: No
Lease Terms
Lease Terms
  • Entry Date: 09-12-2022

Property History for 2741 Beverly Boulevard

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

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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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, Sevak Keshishian, DRE #01887505

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.