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$900,000

Beds
2
Baths
1.0
sq ft
1,290

2311 W 2nd St, Los Angeles, CA 90057

2311 W 2nd St

Los Angeles, CA 90057

  • 240 days on market
Priced Reduced! Motivated Seller! SB8 Clearance, Phase 1 report, and a land survey are available upon request. First time on the open market in almost 40 years! This development opportunity features 6,467 SF of land with alley access, in sought after Westlake just South of Beverly Blvd. The property will be delivered fully vacant with SB8 excluded approval. This investment presents a developer the opportunity to purchase land in the coveted Silverlake Adjacent, located steps from Echo Park. The parcel is zoned R3-1 and located in a Transit Oriented Community Tier 1, allowing a developer to build up to ~9 large units at a low price per sf of $139. Additionally, the Los Angeles Transit Oriented Density bonus can be used to build up to ~14 units. The subject property is centrally located within the heart of Westlake and Filipinotown. This parcel is a hidden gem in a gentrifying area surrounded by new developments. This site is located with close proximity to food destinations, bars, coffee shops, retail stores as well as Downtown LA, Silverlake, and K-Town. Buyer to do their own due diligence regarding possibilities for development. Property inspection subject to accepted offer. Please do not contact the owner as the property is exclusively listed.

Details

Property type

Single Family Residence

Est. home value

$986,780

Lot size

6,467 sq ft

Price per sq ft

$698

Year built

1920

HOA

No

Price History

03/12/2024
CLAW

CLAW #24368003

Listed
$900,000

Schools & Community

Neighborhood: 

Westlake

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Gated

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

Citicorp Trust Bank Fsb

Loan start date

July 2004

Original loan amount

$96,632

Est. remaining balance

Not provided

Interest rate

6.32%

Loan type

Not Provided

Seller

Jesse Varela and Yolanda Medrano Varela

Lender

Firs American National Fin Grp Inc

Loan start date

February 1998

Original loan amount

$25,000

Est. remaining balance

Not provided

Interest rate

6.57%

Loan type

Stand Alone Second, 15 year

Seller

Jesse Varela and Yolanda Medrano

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

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Status: Active

Tomo last checked: 11/08/2024 at 7:30 AM

Listing updated: 10/19/2024 at 4:55 AM

Listed by: Jacob Kesherim, Keller Williams Beverly Hills Phone #: (310) 432-6400

MLS: CLAW #24368003

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