Santa Monica developer to build 60-unit multifamily in Echo Park

Realty Investment Advisors wants to continue area's recent resi development push

TRD LOS ANGELES /
Jan.January 04, 2019 05:00 PM
Benjamin Hsiang and 600 N. Alvarado Street in Echo Park (Credit: Loopnet and Realtor)

Echo Park’s multifamily development push is still showing signs of life.

Realty Investment Advisors, led by Ben Hsiang, has filed plans to build a 60-unit multifamily complex at 600 N. Alvarado Street in Echo Park.

The developer, based in Santa Monica, purchased the site for $2.5 million last June from Raquel Dominguez, the surviving member of the D&R Dominguez 2016 Family Trust. The property consists of eight parcels totaling about 25,000 square feet facing Alvarado Street. It is close to the 101 Freeway, according to property records.

Three6ixty, a development consultant in Culver City, filed plans on behalf of the owner. Enrique Viramontes of RE/MAX Commercial and Investment Realty was the listing agent when it sold.

Echo Park is among a number of Eastside neighborhoods in Los Angeles that have seen a steady stream of residential development over the past year. In November, the owners of a shovel-ready 31-unit apartment complex decided to up-size their project to 77 units.

On a larger scale, Korda Group said in July it would build a six-story complex with 158 apartments near Dodger Stadium.


Related Articles

arrow_forward_ios
Architect Simon Park and a rendering of the project (Credit: SSPSTUDIO ARCHITECTURE & URBAN DESIGN)

Boyle Heights slated for another mixed-use project

From left, clockwise: Daydream Apartments’ Griffin and Grace on Spring, Douglas Emmett’s The Glendon at Westwood and Carlyle Group’s Sofia Los Angeles

Here are LA’s 5 biggest multifamily sales of 2019

Monica Rodriguez orchestrated the nixing of a residential project set for the Verdugo Hills Golf Course (Credit: Google Maps, Wikipedia)

The threat of fire doomed this Tujunga resi project. Now the developer will sue

Relevant Group’s Richard Heyman and the project site (Credit: Google Maps)

Relevant Group plans 87-unit apartment complex in South LA

A rendering of the project

Developer files plans to build 87-unit apartment complex in Pico Union

A rendering of the project and Douglas Bystry, President and CEO of Clearinghouse

Koreatown resi complex marks firm’s entry into Opportunity Zones

A rendering of the property, Cityview CEO Sean Burton and Virtu Investments principals Michael Green and Scott McWhorter (Credit: LCP 360) 

Virtu pays $71M for Warner Center complex in Opportunity Zone

6550 South Normandie Avenue (Credit: Google Maps)

Haroni Investments to turn parking lot into new apartments

arrow_forward_ios
Loading...