Eastside Real Estate & Development News
A round up the latest real estate news.
Demolition has been approved for a cluster of boarded-up apartments on Hobart Boulevard. The nine existing apartments at 1341-1351 Hobart Blvd. are to be replaced with a 29-unit apartment building. Two units will be set aside for low income households, two units for very low income households, and three units for extremely low income households. In exchange, the building will have smaller side yards than normally required, and will exceed the usual height limit by 22 feet, to reach a total of 52 feet tall.
The wood framing has been rising on a mixed-use development that will include 102 apartments, a 100-room hotel, and 5,000 square feet of ground-floor retail space, Urbanize reported. First proposed in 2018, the 114,000-square-foot project on the 100 block of Avenue 21 at Barranca Street is about three blocks from the L.A. River and across the street from the popular St. Vincent de Paul thrift store.
The highest priced home sale last week was a 4-bedroom/3.5 bathroom Spanish colonial revival on Hollyvista Avenue, according to Redfin. The 85-year-old Franklin Hills home went for $2,495,000, just around 2% above the asking price. The 3,602-square-foot home is located on a 5,040-square-foot lot. It is right next to the South Deloz/Hollyvista Stairs, in the middle of the three-block Prospect Walk between Prospect and Franklin Avenues.
A parking lot at Sunset Boulevard and Reno Street will be replaced with a 74-unit apartment building, under plans filed Thursday with the city's planning department. The five-story building would occupy 3004-3016 Sunset Blvd. and 951 N. Reno St. The applicant, listed as Sunset Reno LLC, has requested added density and floor space under a city program that permits developments near major transit lines to be bigger than would normally be allowed. The plan is for 26 studio units, 42 one-bedroom units and six two-bedroom units. Six apartments would be set aside for extremely low-income households. The property (not including the alleyway) takes up approximately 18,000-square feet - nearly half an acre - and has been held by the same owner for at least 11 years.
On The Market Sponsored Listings
That’s it for this issue of Real Estate Monday.
— Barry Lank