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100-unit Silver Lake project in the works; Cypress Park getting its first Starbucks; a home for Boyle Heights bridge lovers

A Roundup of Eastside  Real Estate and Development News

Welcome to a digest of Eastside real estate news, development and people.  This issue of Real Estate Monday is sponsored by Eastside Homes. In this week’s issue:

The cheapest Boyle Heights home now for sale will put you in the shadow of the 4th Street Bridge. Talk about a Starbucks in Cypress Park is now more than just talk. And a 100-unit residential complex in Silver Lake would replace three existing buildings — and add to the Sunset Junction development boom.

Read on!

Real Estate Roundup

Boyle Heights

The cheapest home currently on the market crouches right next to the 4th Street Bridge. If you’re the real estate agent, how do you sell this 79-year-old, 1-bedroom? In the case of this property, by describing the bridge as a selling point. “One of a kind location,” the listing accurately points out. “Right next the famous Fourth Street bridge where countless movies have been filmed.” $350,000.

Cypress Park

It’s Official: Building permits have been applied for to convert the former Burger King at 3241 N. Figueroa St. at Cypress Avenue into the neighborhood’s first Starbucks. This includes an ADA upgrade, outdoor seating and re-striping the parking lot. Plans for the Starbucks first emerged in February after the Burger King had already been closed and boarded up for a few months. Two former BK drive-thrus — one on Soto Street in Boyle Heights, the other on Marengo Street in Lincoln Heights — have also been converted into Starbucks in recent years.

East Los Angeles

A new mixed-use affordable housing complex is going up at the southeast corner of Whittier Boulevard and Downey Road, Urbanize reports. Non-profit developer Meta Housing Corporation is working on a four-story building featuring 71 rental apartments – a mix of 1-, 2-, and 3-bedroom units – with about 3,400 square-feet of ground-floor commercial space. The apartments are to be set aside for households making between 30 and 60 percent of the area median income.

Glassell Park

Technicalities are being worked out to develop a 17-unit small-lot development at 4035 N. Eagle Rock Blvd. It would allow for commercial uses in three of the units.

Highland Park

Ground has now been broken for four new houses on a hillside at 1414-1450 Eaton Terrace, each with three bedrooms and a 2-car garage, Urbanize reports. The project is called Eaton Park, developed by Barth Partners.

Silver Lake

A proposed 100-unit residential complex at 1201 N. Myra Ave. near Fountain Avenue would mean demolishing a residential triplex, a single-family home and an auto repair shop. The new building would be 87,524 square-feet, with five levels of residential units over one floor of ground-level parking and one level of underground parking. The Real Deal reports that the developer is California Landmark Group, which paid $3.38 million for the property. CLG is seeking to reduce the required open space by 25% in exchange for building less than half a mile from the Vermont/Sunset Metro station. It also wants to increase the height of the building from beyond the existing 45-foot limit to 67 feet.

The CLG project is a short walk away from where another developer has been in the process of seeking approvals for two large apartment buildings and a hotel in the Sunset Junction area. 

A former church and commercial space at the corner of Sunset Boulevard and Golden Gate Avenue is being remade into a retail center called Sunset Gateway. Loopnet is promoting four retail spaces in the Sunset Junction property. The group behind it, Engine Real Estate, has also been involved in several projects with older buildings, including the former Frank’s Camera Building and Mr. Holmes Bakery in Highland Park and an apartment building at 1461 Sunset Blvd. in Echo Park.

A 15-unit apartment building is being proposed for 833 North Hyperion. It would be 4-stories of apartments over one level of underground parking, with 15 spaces.

Twelve small-lot homes are being developed for the intersection of Marathon Street and Silver Lake Boulevard, Urbanize reports. Each three-story structure would feature a private patio and a two-car garage, arranged around a common driveway. Funded by RSE Capital Partners and developed by P Joseph Development, each Spanish Colonial Revival home would have three stories, each with a private patio and a two-car garage. The units are to be arranged around a common driveway.

A message from our sponsor Eastside Homes

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Our business is based on mutual respect, trust and a deep knowledge of the local real estate market. We begin by finding out about our client’s goals and dreams before we talk about home prices, mortgage rates, etc. Finding the right home is just the beginning, of course. We are there to negotiate the best price, spot any potential problems and do a lot of hand-holding.

On The Market

New Listings From Eastsider Sponsors

A Silver Lake Modern, Eagle Rock Spanish and More

Three New Listings in Angelino Heights, Los Feliz and Echo Park

Spectacular entertainer’s paradise and private sanctuary in Historic Whitley Heights

A Proven Track Record for Helping Homebuyers Get Their Offers Accepted: Thomas and Micah Can Deliver

Highland Park Artist Compound with 2 Houses on One Lot

For Sale: Mid-Century Home Eagle Rock

For Sale: Sleek Modern Home in Glassell Park

That’s it for this issue of Real Estate Monday. We will be back next Monday.

— Barry Lank & Jesús Sanchez

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3 comments

  1. Do we know yet what will be built at the Sunset/Hillhurst/Hollywood Blvd. intersection? The old Auto Zone and car dealership(s) locations?

  2. Re the 100-unit Silver Lake project, 1201 N. Myra is NOT near Hyperion Ave. It is near Fountain Ave. It is a block into the residential neighborhood and at Effie Street.

    And that address is four lots away from the auto repair shop, entails two more residential lots before getting to the auto repair shop.

    What this project is is the ENTIRE block being torn down and built to a much, much bigger impact. Five-story height across the entire block, a block into the much lower density residential neighborhood.

    It would be nice to know the zoning at 1201 N. Myra as I’m sure it does not allow for five stories there.

    This is bigger than the long opposed project at Sunset and Santa Monica Blvds at Sunset Junction, which at least is a commercial district on major thoroughfares!

    It would be nice to hear how many renters are being evicted for this, possibly to end upon the street homeless like so many others being runout of their homes by this massive amount of redevelopment around this area.

    • Thanks for pointing that out. We’ve changed Hyperion Avenue to Fountain Avenue. The address is the “primary address” as described in the Planning Department summary. That’s what we go by but noted that several lots are involved in this project. If you want to find out more about the zoning and property, please go to http://zimas.lacity.org/ and enter the address for those details.

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