241 -245 N Union AVE, Los Angeles, CA 90026
241 -245 N Union AVE, Los Angeles, CA 90026
241 -245 N Union AVE, Los Angeles, CA 90026
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$4,495,000
Est. payment /mo
0.66 Acres Lot
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UPDATED:

Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID 26857979

HOA Y/N No

Lot Size 0.659 Acres

Property Description

Prime development opportunity consisting of two contiguous parcels located at 241 and 245 N. Union Avenue (APNs 5159-009-014 and 5159-009-013), totaling approximately 28,700 SF. Offered at $4,495,000, the vacant, fully demolished site is located in Historic Filipinotown, just south of Echo Park Lake.The RD1.5-1, Tier 2 property features valuable street-to-alley frontage and is currently fully entitled for an 18-home small-lot subdivision. The approved plans include approximately 31,243 SF of livable area and 42,568 gross SF, with contemporary three- and four-bedroom townhomes ranging from approximately 1,607 to 1,920 SF. Each residence is designed with private garage parking and a rooftop deck, with additional guest parking provided.The site has been completely cleared, eliminating demolition and tenant-relocation risk, and substantial entitlement, planning and design work has already been completed. Permit fees must be paid before September 1, 2026, to maintain the current approvals. The purchaser will also be responsible for posting the required bond for public right-of-way improvements.Conveniently located near Echo Park, Silver Lake, Downtown Los Angeles, Westlake and Koreatown, with easy access to the 101 Freeway. Available as an outright sale or potential joint venture opportunity.

Location

State CA

County Los Angeles

Area C21 - Silver Lake - Echo Park

Zoning LARD1.5

Interior

Fireplace No

Exterior

View Y/N No

View None

Building

New Construction No

Others

Senior Community No

Tax ID 5159009014

Special Listing Condition Standard

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Listed by Angelica Gotzev Kidder Mathews of California, Inc. #02053007

NEARBY SCHOOL & BUSINESS

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