Eastside Real Estate & Development News
The grisly Manson-family murder scene is for sale. A planned Lincoln Heights hotel and residential project is moving ahead. A home of a former Japanese florist has been nominated as a historic landmark as the owner tries to sell the Silver Lake property. Read on for details!
An affordable apartment complex of 54 units has been completed two blocks away from Metro's Hollywood/Western subway station, according to Urbanize. The Coronel runs along 1601 N. Hobart Boulevard and 1600 N. Serrano Avenue. Most of the apartments are priced for households earning at or below 60 percent of the area median income, with others set aside for households making at or below 30 percent. Rents end up ranging from $488 to $1,354 per month. The project budget was about $29.9 million.
A 32-unit apartment building known colloquially as "Big Mama Court" has sold for $9 million, according Rich Johns and Adam Zunder of KW Commercial, which completed the sale. Loopnet notes the property had undergone "a systematic renovation to the common areas and almost half apartment units." The investors who purchased the property three years ago for $7.2 million also painted the exterior a shade of bright pink as part of a plan to make the building look like a “Moroccan boutique hotel.” The complex was once known as McCallister Manor, but was later nicknamed "Big Mama Court" by the authors of the 1982 book "Courtyard Housing in Los Angeles," in "honor of its tenacious manager."
Plans are moving forward for apartments and a hotel near the L.A. River, with parts of the plan going before the East Los Angeles Area Planning Commission last week, according to Urbanize. The project would involve demolishing 12 existing structures (including two industrial buildings, six residential units, and a commercial building), and the construction of a six-story, 114,536-square-foot mixed-use development with 100 residential units, 100 hotel guest rooms, and 4,946 square feet of commercial/retail space. The project also includes 135 parking spaces on the first and second floors, and 12,740 square feet of open space.
The notorious LaBianca house, where Leno LaBianca and his wife Rosemary were killed by the Manson "family," is for sale, Curbed reports. The 2-bedroom Spanish at 3311 Waverly Drive is now listed for $1,988,800 on Redfin. The property description mentions the "unobstructed front and back views," the proximity to Griffith Observatory and the privacy afforded by a 31,000+ square-foot lot. "You may never want to leave," the listing states. It does not mention, however, that grocer Leno LaBianca and his wife Rosemary were murdered there by in August 1969. According to Curbed, though, the agent’s notes say to research before showing the property.
Momentum is building to open the nearly 10-acre Rowena Reservoir property in Los Feliz to the public, The Eastsider reported. Councilman David Ryu has proposed studying the feasibility of "passive recreation" in the park-like grounds that cover the underground, 10-million gallon reservoir at Rowena and Hyperion avenues. Some residents have over the years proposed opening the property as a park or green space. But the L.A. Department of Water and Power, which manages the reservoir, has long resisted, saying that high-voltage electrical and other equipment related to the reservoir tank poses a hazard to those who wander nearby.
A century-old home that once housed a long-time Japanese florist on Hyperion Avenue could become become a city historic landmark, amid concern that the property could be demolished or developed, The Eastsider reported. The nomination by the Little Tokyo Historical Society notes that, while Japanese Americans dominated the wholesale flower industry for several generations, the former home of Tokio Florist is a rare case in which a building associated with that industry survives with integrity. The property is currently listed for sale at more than $5 million.
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That’s it for this issue of Real Estate Monday.
— Barry Lank & Jesús Sanchez