626 Lookout Dr, Los Angeles, CA 90012

Description

We are pleased to present the exclusive offering of Lookout Drive, a rare multifamily development opportunity ideally situated in the highly desirable Echo Park neighborhood of Los Angeles. The offering consists of four contiguous parcels (APNs 5415-016-025, 5415-016-026, 5415-016-027, 5415-016-010) and totaling approximately 28,314 square feet, creating a sizable assemblage with significant development potential in one of Los Angeles' most sought-after and supply-constrained rental markets. The property is zoned [LN1-MU2-5][RG1-FA][CPIO-O], providing investors and developers with flexibility to pursue a variety of multifamily and commercial development strategies. The site offers a base 1.5 FAR, with the potential to increase to approximately 3.0 FAR through applicable Density Bonus incentives. Each of the four parcels may allow for the development of up to nine units without requiring the allocation of units to affordable housing, creating the potential for up to 36 units across the assemblage, subject to buyer verification and applicable development requirements. Positioned just south of Dodger Stadium, the property benefits from exceptional connectivity to Chinatown, Downtown Los Angeles, and the greater Los Angeles area. Residents would enjoy convenient access to major employment centers, public transportation, dining, entertainment, and neighborhood retail throughout Echo Park and surrounding communities. The elevated setting also provides expansive views overlooking Downtown Los Angeles and the 110 Freeway corridor, offering the opportunity to create a thoughtfully designed project that captures the surrounding cityscape and enhances the site's long-term appeal. With limited remaining development opportunities in this dynamic and rapidly evolving submarket, Lookout Drive represents a compelling opportunity to develop new housing in an area characterized by strong tenant demand, limited supply, and significant barriers to entry. Whether envisioned as a multifamily community, or another residential-focused project, the assemblage provides the scale, flexibility, and location necessary to capitalize on the continued growth and desirability of Echo Park. Lookout Drive offers investors and developers the rare opportunity to acquire a substantial four-parcel assemblage in the heart of Los Angeles, combining meaningful development potential, elevated views, proximity to Downtown Los Angeles and Dodger Stadium, and long-term appreciation potential. With its prime Echo Park location, flexible development opportunities, and sizeable footprint, this offering presents an exceptional opportunity to create a signature project in one of Los Angeles' most desirable and supply-constrained neighborhoods.