Entitled Income-Restricted Housing
For Sale
$3,575,000
419 N Lake, Los Angeles, CA 90026
Entitled 95-unit income-restricted housing project in Echo Park.
Property SizeContact for details
Lot Size0.14 Acres
Days on Market173
Property Features for 419 N Lake
General Information
Standard status
Active
Lot size
0.14 Acres
Property subtype
Land or Vacant Lot
Listing Agency:
CB RICHARD ELLIS, INC.
(310) 954-7031
Listed By:
ADAM PETERSON · License #01815802
Source:
Corcoran
Added: Feb 18
Changed: Aug 8
Last Checked: Aug 8 at 6:04AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CB RICHARD ELLIS, INC.
Investment Insights
Based on property information with market context.
This offering features an entitled 95-unit ED1 project for income-restricted housing, situated on a 12,011 square foot double lot. The seller will deliver the project with RTI (ready to issue) permits upon the close of escrow. Zoned LAR3-1VL, the project has been granted six incentives and waivers, including no maximum density, increased FAR, and decreased setbacks and open space, due to its ED1 status. The contemplated project design includes no subterranean parking, is 6 stories in height, and features a unit mix of studios and 1-bedroom apartments. Twenty at-grade parking spaces will be available to tenants, along with 74 bicycle spaces and a roof deck lounge. Echo Park has seen considerable multifamily development recently, driven by its increasing desirability and proximity to employment centers. The multifamily vacancy rate remained relatively low at around 5.4% in late 2024, indicating consistent demand for rental units in this attractive and well-located neighborhood near major employment centers. Silver Lake is a key neighboring market to Echo Park, sharing a similar artistic history, resulting in a strong and competitive multifamily market with high rental demand and increasing property values. As of February 2025, average rents for apartments in Silver Lake were generally comparable to those in Echo Park, often exceeding $3,000 for a one-bedroom unit.
Key Highlights
- Entitled 95‑unit ED1 project with RTI (ready to issue) permits delivered at close of escrow.
- Located in the highly desirable Echo Park neighborhood, near major employment centers, with low multifamily vacancy rates (around 5.4%).
- Zoned LAR3‑1VL with six incentives/waivers granted, including no maximum density and increased FAR.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,961
Businesses Nearby
Explore this area
Business Placement
Demographics for 90026, CA
63,329
Population
28,632
Households
2.2
Avg Household Size
37
Median Age
47%
College-Educated
82%
High-School Grad
4.0 sq mi
ZIP Area
15,832
Density / Sq Mi
$85,835
Median Household Income
$47,600
Median Earnings
$1,822
Median Rent
$1,143,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Entitled 95-unit income-restricted housing project in Echo Park.
Where is this residential land & home lot located?
The property is located at 419 N Lake Los Angeles, CA.
What is the asking price?
The asking price for this property is $3,575,000.
What are key features of this property?
This property features: Entitled 95‑unit ED1 project with RTI (ready to issue) permits delivered at close of escrow.; Located in the highly desirable Echo Park neighborhood, near major employment centers, with low multifamily vacancy rates (around 5.4%).; Zoned LAR3‑1VL with six incentives/waivers granted, including no maximum density and increased FAR.
