351 Patton St, Los Angeles, CA 90026
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351 Patton St Los Angeles, CA 90026

$3,600,000
  • -- Beds
  • -- Baths
  • -- Sq.Ft.
For Sale
$3,600,000 Get Pre-Qualified

Map preview of 351 Patton St, Los Angeles, CA 90026

Property Overview: 351 Patton St Los Angeles, CA has -- bedrooms, -- bathrooms, -- living square feet and 11,643 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: Nestled in Los Angeles City and in the vibrant community of Echo Park, we are pleased to present 351 and 359 Patton St (APN 5160-004-016 & -017)-an exceptional opportunity for investors or developers seeking a prime development location. Patton’s contiguous double lot boasts a combined lot size of 11,643 square feet with R4 base density, offering ample space and flexibility for various development programs such as ED1 (executive directive 1, TOC (transit-oriented communities), DB Density (density bonus), or build by rights! Future developers can utilize the lot area totaling 12,043 SF when accounting for one half of the alley. With a generous by right height allowance of 75’ and DB/TOC of 86’, developers may choose to max out Patton’s potential with ED1’s streamlined ministerial approval process and build affordable housing on this nearly flat lot. Take advantage of favorable site conditions such as transformers/poles located across the street, paved alley, and numerous new multifamily developments in its immediate vicinity. With rising costs of construction and hard costs, a great way to hedge is to purchase an optimal site with limited shoring and excavating required. 351-359 Patton is also clear of any oil wells, environmental roadblocks, and tenant relocations conditions. AB 2097 also offers developers the chance to limit or eliminate parking requirements. Inquire today about how to make Echo Park a safe and thriving community!

Listed by Vincent Truong | BRE #02012064 | A + Realty & Mortgage
Last checked: 12 minutes ago | Last updated: May 7th, 2024 | Source CRMLS | DOM: 64
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Home details

Lot Sq. Ft
11,643
HOA Dues
$0/mo
Year built
--
Garage
--
Property Type:
Land
Status
Active
MLS#
TR24091934
City
Los Angeles
County
Los Angeles
Time on Site
68 days

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Property Details for 351 Patton St

Lot Details / Garage and Parking
Lot Information
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Has View
  • View: City Lights, Mountain(s), Neighborhood, Panoramic
  • Parcel Number: 5160004016
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Water Source: Public, See Remarks
Location / Neighborhood
Location Information
  • Directions: TEMPLE AND PATTON
Neighborhood Information
  • Community Features: Street Lights, Urban
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Sale History for 351 Patton St

Last sold on June 30th, 2016
  • May, 2024

  • May 7, 2024

    Date

    Active

    CRMLS: TR24091934

    $3,600,000

    Price

  • May, 2024

  • May 2, 2024

    Date

    Expired

    CRMLS: MB23229205

    $3,700,000

    Price

  • Dec 21, 2023

    Date

    Active

    CRMLS: MB23229205

    $3,700,000

    Price

  • Listing provided courtesy of CRMLS

    ATTENTION DEVELOPERS!!! (ED 1) Executive Directive 1 Opportunity. Build up to 8 stories tall. Here’s your opportunity to own a property with a large flat lot with room to create a project that will provide income for many years to come. Property located within 1 mile of Union Station and 0.2 miles from a major transit stop as defined by the Transit Oriented Communities (TOC) Guidelines. Close proximity to Downtown, Chinatown, Dodger Stadium, Echo Park, Sunset Blvd, the 110, and the 101 Freeways. Zoned LACW, lot size 11,643 sqft. Executive Directive 1 (ED 1) expedites the processing of shelters and 100% affordable housing projects in Los Angeles. Eligible projects receive expedited processing, clearances, and approvals through the ED1 Ministerial Approval Process. 359 Patton St, Los Angeles, CA 90026 and 351 Patton St, Los Angeles, CA 90026 sold together. APN: 5160-004-016 and 5160-004-017 sold together. 11,643 sqft 0.267 Acres

  • August, 2019

  • Aug 23, 2019

    Date

    Expired

    CRMLS: 19447094

    $3,000,000

    Price

  • Jul 8, 2019

    Date

    Withdrawn

    CRMLS: 19447094

    $3,000,000

    Price

  • Mar 23, 2019

    Date

    Active

    CRMLS: 19447094

    $3,000,000

    Price

  • Listing provided courtesy of CRMLS

  • August, 2018

  • Aug 15, 2018

    Date

    Expired

    CRMLS: 18333460

    $2,850,000

    Price

  • Apr 14, 2018

    Date

    Active

    CRMLS: 18333460

    $2,850,000

    Price

  • Listing provided courtesy of CRMLS

    To be sold with adjacent lot at 359 N. Patton Street. APN: 5160-004-017 and included in this price. Single family home on each lot to be delivered vacant. Opportunity to develop 32 units by right. Take advantage of incentives and/or bonus density allowed for these TOC Tier 1 properties to add additional units for a total of 48 units. Completely flat, no oil wells nor storage tanks. 20' alley in the rear. Walking distance, and on the same street, as the Echo Park Community Center, pocket park and Echo Park Pool for additional amenities for your project.

  • June, 2016

  • Jun 30, 2016

    Date

    Sold (Public Records)

    Public Records

    --

    Price

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Tax History for 351 Patton St

Assessed Value (2020): $420,340
Year Land Value Improved Value Assessed Value
2020 $336,273 $84,067 $420,340

Home Value Compared to the Market

This property vs the competition

351 Patton St is listed 200% higher than the median list price for the city of Los Angeles which has a median list price of $1,200,000.

About 351 Patton St

Detailed summary of property

351 Patton St is a land located in Los Angeles, CA 90026 and is currently for sale. This land offers -- bedrooms, -- bathrooms, roughly -- living square feet, and sits on an approximately 11,643 square foot lot. 351 Patton St was first listed on ArdentRealEstateGroup.com on May 7, 2024. The homeowner is currently asking $3,600,000. The median priced home in Los Angeles is $1,200,000 with a median price per square foot of $773. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 200% higher than the median priced home. Local competing homes currently for sale include 1338 W Manchester Ave, 2381 Sunset Plaza Dr and 9443 Sierra Mar Pl. While the average home in Los Angeles, CA is selling in 101 days, 351 Patton St has a days on market of 64 days. There are currently 4052 homes for sale in the Los Angeles real estate market and 2723 of them are single family homes while 1208 of them are condos and 114 are townhomes. For more information on this home for sale at 351 Patton St Los Angeles, CA 90026 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 351 Patton St

Public county record property details
Beds
3
Baths
1
Year built
1893
Sq. Ft.
1,253
Lot Size
5,821
Stories
--
Type
Single Family Residential
Pool
No
Spa
No
County
Los Angeles
Lot#
2-3,7-8
APN
5160-004-016

The source for these homes facts are from public records.

90026 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,199,999
Median List Price/Sq.Ft.
$876
Median Sold Price
$1,796,500
Median Sold Price/Sq.Ft.
$802
Total Inventory
71
Median Sale to List Price %
112.99%
Avg Days on Market
18
Loan Type
Conventional (17.65%), FHA (0%), VA (0%), Cash (11.76%), Other (0%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.