We are pleased to present for sale 330-332 N Patton an RTI 32 unit multifamily development site (just pay permit fees). The proposed plans will consist of 32 units over one level of on-grade parking and one level of subterranean parking. The proposed buildable square footage is approximately 21,921 square feet. The unit mix consists of twelve 2-bedrooms and 2-bathrooms averaging 950 square feet, five 1-bedroom and 1 bathroom units averaging 610 square feet, and fifteen studios with 1 bathroom averaging 500 square feet. Three units (very low income) will be below market rent. Please see offering memorandum in documents for development analysis. Buyers are to verify the development potential of the property and review the plans and all costs involved in the proposed development independently. Listing agent has all the plans and due diligence which are available upon request. While the current plan is a great project, a new owner might be interested in using TOC incentives for higher unit count (±42 potential). The property is situated in the Echo Park area of Los Angeles. The prime location is near the 101 Freeway and minutes from Downtown LA, providing future tenants access to all dining, culture and entertainment that Echo Park/Westlake has to offer.
