801-807 Waterloo St

Property Overview

801-807 Waterloo Street is a fully entitled affordable housing development site in Echo Park. Offered at $3,295,000, which is $25,153 per buildable unit. The 12,613 SF double-lot corner site carries ED1 ministerial approval for 131 income-restricted units, TOC Tier 3 density bonuses, and AB 2345 zero parking. Letter of Compliance issued. Welfare Tax Exemption BOE-approved. Seven-story mid-rise, Type III over Type I construction, approximately 65,000 SF. Unit mix: 84 singles and 47 one-bedrooms. Rooftop deck and open recreation areas included in the design. 100% SD plans included. The existing improvements have been vacated via Ellis Act. The property is delivered vacant. Walk Score 89. Six-minute walk to Sunset Blvd. 1.3 miles to the Metro B Line. 2.5 miles to DTLA. Within the Silver Lake-Echo Park-Elysian Valley Community Plan area, one of the most transit-connected, supply-constrained corridors in the city. At $25,153 per unit, this is the lowest-basis entitled opportunity currently available in Echo Park.

Investment Highlights

• Fully entitled — Letter of Compliance issued November 2024.
• Zero parking — $8M+ cost advantage built in (AB 2345 Exemption).
• 100% SD plans included — saves 6 to 9 months of design time.
• Soils, survey, and title complete and transferable to buyer.
• Welfare exemption application included.
• Ministerial approval under ED1.

Neighborhood

Echo Park is a high-demand infill submarket 2.5 miles northwest of Downtown LA. Walk Score 89. Six-minute walk to Sunset Boulevard. 1.3 miles to the Metro B Line. TOC Tier 3 status maximizes density bonus eligibility. Strong renter demand, rising land values, and limited new supply.