Echo Park | CREOP

Vinco Vinco Realty Group is pleased to present our analysis on this 31,236/SF of C2-1-CUGU zoned development opportunity. The site currently consists of a burned down structure with little to no use and adds very little value to site. The analysis was mainly conducted on the site’s development potential using the zoning and land uses allowed with market data available. The site is located within the TOC (Transit Oriented Communities) Tier-3 designation allowing for up to 70% bonus unit density. Confirmation of this TOC designation is recommended to determine the true TOC tier. Additionally, the site is within the Enterprise Zone allowing for minimized commercial parking.

The subject property is adjacent to one of the most sought after submarkets in the Los Angeles area – The Arts District in DTLA. This submarket has grown exponentially over the last ten years due to its proximity to proper DTLA and warehouse conversions into sleek and modern loft style buildings. Amenities have grown with the residential influx and is home to many creatives, including those in the green technology, architecture, and entertainment. Boyle Heights is located just east of the Los Angeles River, adjacent to the Arts District and the success of this area has had an overflow from the Arts District. Its location combined with recent redevelopments, including the purchase of the Sears Tower – a centerpiece of Boyle Heights – by Downtown developer Izek Shomof, makes the Boyle Heights real estate market one of the most promising areas for investors.