2645 Blimp StLos Angeles, CA 90039

Property Details for 2645 Blimp St

Property type

Residential income properties

Property subtype

Other land

Description

Prime 28,074 square foot lot in Los Angeles's desirable Frogtown neighborhood is available for development. Zoned (Q)CM-1VL-RIO, this property presents a unique opportunity to build up to 149 residential units, per ED-1 guidelines, within a nearly 100,000 square foot building envelope. Alternatively, developers could pursue 23+ units as-of-right or 67+ units under AB1287. Currently used as a surface parking lot, the site boasts approximately 330 feet of frontage and is conveniently located near the LA River Bicycle Path and a new bridge. The property benefits from its location in an Opportunity Zone and a CTCAC/HCD Moderate Resource Opportunity Area. A significant advantage is the absence of any RSO requirements, eliminating relocation concerns. Furthermore, the development includes a requirement to provide parking for a neighboring project, generating potential monthly income. The property consists of three APNs: 5442-007-022, 5442-007-023, and 5442-007-024. This exceptional location offers proximity to Downtown, Atwater Village, Silver Lake, Echo Park, and Highland Park, while maintaining its own distinct character with diverse dining, nightlife, and entertainment options. The asking price is $6,350,000.

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.0965

Longitude

-118.243

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