801-807 Waterloo Street is a fully entitled affordable housing development site in the heart of Echo Park. Two adjacent parcels totaling 12,613 square feet. Approved entitlements for 131 income-restricted units and letter of Compliance already in hand. The plan calls for a seven-story mid-rise using Type III over Type I construction. At roughly 65,000 buildable square feet, the unit mix breaks down to 84 singles and 47 one-bedrooms. A rooftop deck, multiple open recreation areas, and space for supportive services are built into the design. The 50% design development plan package is included, and the Welfare Tax Exemption is already BOE-approved. Both are significant time and cost advantages for a buyer ready to move. On pricing, $22,099 per buildable unit is the number that stops people. A mission-driven developer or nonprofit can acquire a fully entitled 131-unit affordable project in one of the most transit-connected neighborhoods in LA for a fraction of what it costs to assemble and entitle from scratch. The location supports it. Walk Score of 89. Six-minute walk to Sunset Boulevard. 1.3 miles to the Metro B Line. 2.5 miles to Downtown LA. The site sits within the Silver Lake-Echo Park-Elysian Valley Community Plan area, surrounded by the kind of neighborhood density (restaurants, transit, employment) that drives lease-up velocity for affordable housing. The rental demand picture in Echo Park is not speculative. New developments are moving in the corridor right now: 176 units at 2225 W Sunset, 74 units at 3004 W Sunset, 90 units at 355 Glendale. Supply is coming but it is not catching up. Income-restricted product at this location will not sit.

Listing courtesy of Benjamin J. Hsiang of Realty Investment Advisors, Inc.

Based on information from the The MLS as of 2026-09-10 07:17 AM UTC. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.