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314 Douglas Street

Los Angeles (City), CA 90026
  • $1,400,000
  • STATUS: Active
  • ON SITE: 96 Days
  • MLS #: SR22188493
UPDATED: 18 min ago
$1,400,000
  • 0
    BEDS
  • 0.2
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Vacant Land / Lots
County:

School Ratings & Info

Listing Agent(s): Francis Evanisko of Evanisko Realty & Investment (818-985-9700)


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 California Regional Multiple Listing Service, Inc. as of 2022-12-09T16:32:27.823. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Zia Group | eXp Realty. Licensed in the State of California, USA.
www.theziagroup.com/homes/132794434
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314 Douglas Street Los Angeles (City), CA 90026

  • Price: $1,400,000
  • Status: Active
  • On Site: 96 Days
  • Updated: 18 min ago
  • MLS #: 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/Acre16-20 Units/Acre11-15 Units/Acre2-5 Units/Acre21-25 Units/Acre26-30 Units/Acre36-40 Units/Acre31-35 Units/Acre6-10 Units/Acre View None View YN No

Property Features

Additional Parcels YN No Association Fee 0 Association YN No Common Interest None Community Features Gutter(S)SidewalksUrban Land Lease YN No Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan1031 Exchange New Construction YN No Senior Community YN No Special Listing Conditions Standard Water Source Public Zoning Lacw



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-12-09T16:32:27.823. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Zia Group | eXp Realty. Licensed in the State of California, USA.
 
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The Zia Group | eXp Realty
10 E Yanonali St #11
Santa Barbara CA, 93101
Listing Agent(s): Francis Evanisko of Evanisko Realty & Investment (818-985-9700)