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226 S UNION AVE $1,250,000

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    226 S UNION AVE LOS ANGELES, CA 90026

    Active Under Contract
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    • 0.16 Acres
    • Land
    • MLS# 22-171641
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    Views: 3 Days On Site: 54

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    Property Details

    We are pleased to present for a sale a prime LAR3 development opportunity in the Westlake/Historic Filipinotown neighborhood of Los Angeles! Located just minutes away from the hustle and bustle of Sunset Blvd, this ~7,000 sqft lot + Alley offers a developer the opportunity to build 9 units by right or up to 16 units using TOC Incentives. Lot dimensions are 50 by 140 sqft, zoned R3-1, TOC Tier 2, and comes with an alley (Optimal for design efficiency and parking access!). Subject property is currently an owner occupied single family residence that will be delivered VACANT, meaning no dealing with rent stabilization (RSO), tenant relocation, or new onerous SB 8 regulations! Property has received preliminary approval from Housing department that the site will be exempt from SB 8 low income replacement requirement!! The site may also be a great opportunity for fourplex or small lot subdivision. The site lies in close proximity to Echo Park, Silver Lake, Koreatown, DTLA, and much more! Lots of new development in this pocket! Do not miss this opportunity to build in a high rental demand area undergoing gentrification close to restaurants, bars, shopping, and transportation. Buyer to verify all zoning regulations with LADBS. Home to be sold As-Is. Cross listed with MLS: 22-169731. Contact listing agent for more details!

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    Neighborhood

    90026 (LOS ANGELES) Demographics

    35 Median Age
    15,700 Population Density (per sq. mile)
    47% College Educated
    $67,435 Estimated Median Income
    6,392 Estimated Total Home Owners
    20,415 Estimated Total Renters
    24% / 76% Estimated Owner / Renter Divide
    2 Estimated Average Household Size
    67,657 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $1,320,000 Median Sales Price
    35 Homes Sold
    29 New On Market

    Average Days on Site

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- Current Price Source: Multiple Listing Service New Value: $1,250,000
        7/8/2022 9:22:38 AM Status Changed Source: Multiple Listing Service New Value: Active Under Contract
        6/23/2022 1:44:00 PM New in Database Source: Multiple Listing Service New Value: $1,250,000

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        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.