859 Centennial Street, Los Angeles, Los Angeles County, CA, 90012 Los Angeles CA US

One of the advantages of this property is that it is currently a single-family residence, which means it is not subject to rent stabilization (RSO) regulations. This allows for more flexibility in the development process. The lot boasts approximate dimensions of 50 sqft by 140 sqft and offers stunning views of the Downtown LA skyline, adding to its appeal. The location is also highly desirable, being close to shopping, restaurants, bars, transportation (110 & 10 freeways), and other amenities that Echo Park has to offer, making it an attractive location for potential tenants. The potential for development is versatile, with possibilities for townhomes, fourplexes, condos, or other residential units, offering flexibility to suit different investment strategies. However, it's important to note that the buyer should verify all zoning requirements with LADBS (Los Angeles Department of Building and Safety) and other relevant city departments, as the seller/agent do not make any representations on what can be built on the lot. The property is being sold "As-Is, " and the seller is planning a 1031 exchange, with no cost to the buyer to cooperate. This presents a unique opportunity to acquire a rare development site in the rapidly growing and popular Echo Park area, which is conveniently located near Silver Lake, Chinatown, Downtown LA, Dodger Stadium, and more. Don't miss out on this fantastic opportunity to invest in a prime R3 development site in Echo Park and capitalize on the potential for significant returns on investment! Find out more about this property. Request details here