1311 Waterloo St, Los Angeles, CA 90026

Description

We are proud to present a rare and highly flexible luxury residential development opportunity located in the heart of the Silver Lake / Echo Park corridor. The property consists of three contiguous subdivided parcels Parcel A (2,542 SF lot), Parcel B (2,871 SF lot), and Parcel C (2,261 SF lot) with assignable permits already in hand for the construction of three large four-story luxury single family residences, each with a 2-car garage, approximately 3,058.22 SF (Parcel A), 3,207.87 SF (Parcel B), and 3,498.38 SF (Parcel C) of building area, and a lower-level basement of approximately 901 SF, 905 SF, and 1,044 SF, respectively, designed with ADU conversion potential, each thoughtfully designed to capture spectacular hillside and downtown skyline views. After an extensive multi-year entitlement and permitting process, the seller has secured fully assignable permits for all three homes, representing a tremendous value-add to a future developer by potentially saving multiple six figures in soft costs, consultant fees, carrying costs, entitlement expenses, and years of development time and risk. Each residence has also been designed with the potential for lower-level ADU conversion, creating the opportunity for a total of six residential units across the three parcels. This provides a buyer with multiple highly attractive exit strategies including building and selling three luxury single family homes individually, creating duplex-style resale configurations with ADUs, constructing a long-term luxury rental portfolio, or selling a portion of the project while retaining one or more parcels for future appreciation and cash flow. Located just moments from Echo Park Lake, Sunset Junction, Silver Lake's renowned dining and retail corridor, and Downtown Los Angeles, the property sits in one of the city's most vibrant and culturally influential hillside neighborhoods. Future residents will enjoy close proximity to some of Los Angeles' hottest restaurants, boutique retail destinations, nightlife venues, cafes, hiking trails, and creative hubs, all while benefiting from spectacular hillside positioning and convenient central access to DTLA, Hollywood, and the Westside. This is an exceptionally rare opportunity to acquire three contiguous permit-ready luxury development parcels in one of Los Angeles' most supply-constrained and trend-setting residential markets.