The Hirth Group is pleased to market 1518-1526 Colton Street & 1525-1535 Rockwood Street as a portfolio sale consisting of 6 adjacent parcels, located in the heart of the Echo Park submarket of Los Angeles, as an unpriced offering.
The property consists of approximately 32,934 SF of land. The asset is currently vacant land with RD2-1 zoning. 1525-1535 Rockwood Street is located in TOC Tier 2 and 1518-1526 Colton Street is part of TOC Tier 1, providing a rare development opportunity to build 29 multifamily units with 3 designated for extremely low-income households. By exercising the Transit Oriented Communities (TOC) guidelines an investor is allowed 143,262 SF of buildable square footage, a 35% density bonus with 56 feet and four-story height restriction and an increased FAR ratio of 4.35:1 (Due to TOC 35% FAR bonus).
The development opportunity is centrally located in the most dynamic area of Echo Park. Bordered by Los Feliz, Silver Lake, Downtown LA and Hollywood, tenants will have access to exuberant and abundant neighbors and their shopping, dining and entertainment amenities.
CA DRE 01515796
CA DRE 02005428