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$ 700,000
Est. payment /mo
Active
702 Lookout Dr Los Angeles, CA 90012
9,743 Sqft Lot
UPDATED:
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 26987925
Lot Size 9,743 Sqft
Acres 0.2237
Property 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 property consists of one approximately 9,743-square-foot parcel (APN 5415-015-048), offering investors and developers the opportunity to pursue new residential development in one of Los Angeles' most sought-after and supply-constrained rental markets. The property is zoned [LN1-MU2-5][RG1-FA][CPIO-O] and offers a base 1.5 FAR, with the potential to increase density through applicable Density Bonus incentives. The site allows for the development of up to 9 residential units by right without requiring the allocation of any units to affordable housing, subject to buyer verification and applicable development requirements. This provides an attractive opportunity to develop a boutique multifamily project without an affordable housing allocation at the base 9-unit density. Located just south of Dodger Stadium, the property offers convenient access to Echo Park, Chinatown, Downtown Los Angeles, and the greater Los Angeles area, with nearby employment centers, public transportation, dining, entertainment, and neighborhood retail. The elevated setting also provides expansive views of Downtown Los Angeles and the 110 Freeway corridor, offering the potential to incorporate the surrounding cityscape into a thoughtfully designed residential project. With limited opportunities for new multifamily development in established Los Angeles neighborhoods, Lookout Drive presents a compelling opportunity to capitalize on strong housing demand and the continued desirability of Echo Park. The combination of 9-unit by-right development potential, flexible zoning, elevated views, and a strategic location creates an attractive opportunity for developers seeking to create a distinctive residential project with long-term value potential.
Location
State CA
County Los Angeles
Area Silver Lake - Echo Park
Exterior
View Y/N Yes
View City Lights, City
Others
Special Listing Condition Standard
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2026 The MLSTM/CLAW. All Rights Reserved.
The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.
Listed by BRC Advisors- BH
NEARBY SCHOOL & BUSINESS
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