A Roundup of Eastside Real Estate and Development News
Welcome to a digest of Eastside real estate news, development and people. In this week’s issue:
A large mixed-use project has been approved for Los Feliz. A local councilman is fighting taller, denser buildings that would defy local ordinances. Historic Filipinotown faces a new and possibly expensive future. And we found a home in Eagle Rock for $70,000. Seriously.
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Real Estate Roundup
Councilmember David Ryu (Council District 4) introduced a resolution opposing state legislation that would let developers build taller and denser buildings near public transit in defiance of local zoning codes, the Los Feliz Ledger reports.
Occidental College plans to open a new arts facility on York Boulevard this coming fall. The building at the northwest corner of York and Armadale Avenue that Occidental bought for $1.59 million is currently being renovated. In addition to the arts center, two of the seven units within the 5,400-square-foot building have been set aside for commercial use – possibly restaurants. The Eastsider
Looking for an Eagle Rock home under $500,000? How about under $100,000? Redfin has a 1/bedroom/1-bathroom for $70,000 – and just a couple of doors down from Colorado Boulevard. It’s a “manufactured home” – i.e., a trailer home, part of a small complex of portables in the 5000 block of Argus Drive. The listing describes aspects of the 13-foot-wide by 34-foot-long home with different synonyms for small – “cozy” living room, “quaint” kitchen. But parking, at least, is described as “ample.” Move right in – all appliances included.
Curbed L.A. reports that gentrification may be headed this way, and asks who will be guiding the future of the neighborhood. Historic Filipinotown, which was created nearly 20 years ago out of portions of Echo Park and Westlake, has seen a surge of apartment development along Temple Street and Beverly Boulevard.
The former Payless Shoesource at the corner of N. Broadway and Daly Street is going to become a bakery, according to building permits. The store in the neighborhood’s main shopping strip was among 400 outlets closed last year by the discount shoe store chain. What bakery is opening up shop? Online building permits don’t say but we have contacted a likely candidate that has been expanding on the Eastside to see if they are headed for Lincoln Heights.
A large mixed-use project at Western and Franklin avenues has been unanimously approved by the Los Angeles City Planning Commission, according to The Real Deal. The project includes 87 residential units and an additional 11 affordable units as well as 6,000 square-feet of ground-floor commercial space and 112 parking spaces. The plan for the project at 1860 N. Western Ave. on the western edge of Los Feliz would involve demolishing a single-family residence, a one-story duplex and a Valero gas station.
Apparently not every storefront on Sunset Boulevard will be a cafe or boutique. Two retail spots at a minimall at Sunset Boulevard and Coronado Street will be converted into a 2,800-square-foot day-care center, according to building permits. No word on the name of the daycare center. The same space was home to an Internet cafe that was busted by police in 2016 for allegedly operating an illegal slot machine. Current tenants include Cuscalteca Bakery, a nail salon, massage parlor and other businesses.
Papers have been filed to turn two lots into the site of seven small-lot homes at 1754 N. Griffith Park Blvd. The seven homes would have a common driveway and a total of 14 parking spaces. Each structure would be no more than 45 feet tall.
A new home on Benton Way has sold for $3.075 million, according to Redfin. That makes it one of the most expensive homes ever sold in Silver Lake. This 4-bedroom modern was designed by Silver Lake’s Aaron Neubert Architects and completed in 2017 on a 7,000-square-foot lot. It includes a swimming pool, hillside views, clean architectural lines throughout and numerous wall-size windows. As recently as 2015, in its previous incarnation, this lot had been listed at $579,000.
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That’s it for this issue of Real Estate Monday. We will be back next Monday.
— Barry Lank & Jesus Sanchez
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