CityStreet Commercial proudly presents a compelling development opportunity at 1623–1649 Allesandro Street, a strategically positioned site in the rapidly evolving Echo Park neighborhood. Proposed entitlement plans call for a thoughtfully designed residential project consisting of 152 units with a unit mix of 90 two-bedroom units and 62 one-bedroom units with an additional 38 Accessory Dwelling Units (ADUs), positioning the development to meet strong demand for well-located multifamily housing. This opportunity offers investors and developers the opportunity to deliver a significant new housing project in a supply-constrained market. Situated within a State Enterprise Zone, the property may offer additional economic incentives and advantages for developers. The site currently features two existing structures, including a one-story bow-truss industrial building with high ceilings and a two-story building with expansive ceiling heights, providing flexibility for creative redevelopment during the entitlement process. The property also benefits from abundant on-site parking with more than 75 stalls, multiple access points, and roll-up doors servicing both the parking areas and Allesandro Street. BUILDING AREA: ±36,860 SF LAND AREA: ±57,150 SF APN: ±5423-010-030 / 5423-010-007 PRICE: $9,500,000 ASKING MONTHLY RENT: $2.50/SF ZONING: CM-1VL & R2-1VL **Buyer to verify accuracy