$1,200,000

Now presenting, 257 S Park View St, a ready-to-issue (RTI) development opportunity on a quiet residential street primely located in Westlake, a burgeoning neighborhood nestled between some of LA's liveliest hubs. Tucked right in the center of Downtown LA, Koreatown, Echo Park, and Silverlake, this future development is guaranteed to quickly yield happy renters. The 6,765 SF lot is zoned LAR3 permitting a building height of up to 39 FT plus SB8 clearance is on hand confirming that no low-income replacement units are required, further demonstrating the major upside on the property. The RTI plans call for the demolition of the existing structure to build four townhomes with rooftop decks and one ADU for a total of 5 units, 17 bedrooms and 17 bathrooms totalling approx. 8,000 SF of living space. Currently on the lot is a vacant 1,284 SF 3-bedroom, 1.5-bathroom single family home with a detached shed. Additionally, the perimeter of the lot is lined by 15-foot bamboo providing tranquil ambience and built-in privacy. The planned development boasts townhomes with large 3- and 4-bedroom floor plans ranging from 1,500-2,000 SF each coming complete with private rooftop decks and balconies. The smallest unit is the 2-bedroom, 2-bathroom ADU which comes in at 1,000 SF plus a large private backyard which both bedrooms will have direct access to. Westlake is a vibrant community that is home to historic Macarthur Park, Vista Hermosa Natural Park, Los Angeles Surge Hospital (f.k.a. St. Vincent Medical Center), and a plethora of boutiques, cafes, and restaurants. The prime location of this lot coupled with large floor plans that provide ample outdoor space in the heart of LA is an unrivaled combination sure to garner premium tenants. Contact listing agents for plans and permit details. Inquire about this development opportunity today!