1762 Glendale Blvd

• Prime Echo Park Location on Glendale Blvd Surrounded by New Construction and Planned Development
• 3 Vacant Detached Bungalow Style Apartments with the opportunity to add ADU’s (accessory dwelling units)
• Pro-forma Cap Rate of 7.71% +/- with budget for unit remodel and ADU construction
• C2 Zoned Lot buildable to 18 multifamily units By-Right
• Potential to achieve unlimited density via AB 2345 and expedited entitlement process through Executive Directive 1 (ED-1) if a
• 100% affordable housing project is
• Surrounded by retail, restaurants, nightlife, parks, employment centers, and great access to the 1-5, 101, and 10 Freeways
• Walk Score of 83

Property Description

1762 Glendale Blvd is a multifamily property located in the sub-market of Echo Park in city of Los Angeles. Constructed in 1914, the three detached bungalow style units total 1,943 square feet. The buildings are situated on 7,475 square foot lot, zoned LAC2, with parking for (3) cars. This strategically positioned commercially zoned lot offers an incredible opportunity for an investor, developer, or owner/user seeking a prime location in one of the most sought-after neighborhoods in Los Angeles. The property offers multiple strategies to add-value. From remodeling the existing vacant bungalow units with potential to build an ADU and Junior ADU on the lot, to redeveloping the site for multifamily, mixed-use, or affordable housing. A developer has potential to build (18) units on the site by-right, or develop a 100% affordable housing project under Executive Directive 1 (ED-1) with unlimited density.