Eastside Real Estate & Development News
A round up the latest real estate news.
East Hollywood
Land has been at least partially cleared at Santa Monica Boulevard and Lyman Place, ahead of construction for 16-unit residential building. The project sits across Santa Monica Boulevard from the Vermonica art installation, and across Lyman Place from the historic Cahuenga Branch Library. The project involves demolishing two auto repair buildings and building a five-story residential structure with 13,882 square feet of floor space. Two units are to be reserved for households with extremely low incomes.
East Los Angeles
Construction has topped out for the La Paz Apartments, a new affordable housing complex at the northwest corner of Whittier Boulevard and Downey Avenue, Urbanize reported. The three-story building across from Calvary Cemetery is to have 1,161 square feet of ground-floor retail space, and 42 apartments for households earning 35 percent or less than the area median income, with rents expected to range from $509 to $654 per month.
Los Feliz
The youngest daughter of Bruce Willis and Demi Moore has paid $3.2 million for a renovated home on Normandie Avenue. Dirt reported that Tallulah Willis – the founder of the fashion brand Wyllis and a former child actress – paid well above the $2.6 million asking price for the 4-bedroom/4-bathroom 1940s Modern. Prior to this sale, the home last changed owners in January 2011 for $851,000.
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The highest-price home sale on the Eastside last week – without any near competitor – was a 4-bedroom/4-bathroom Spanish on Aberdeen Avenue, which traded for an eye-crossing $7.1 million, according to Redfin. Built in 1928, the renovated estate features 4,926 square feet of floor space on more than half an acre of land near the edge of Griffith Park. The home has been featured in Architectural Digest, and last changed owners in October 2013 for more than $4.5 million.
The identify of the buyer has not been revealed. The home is one of several that have fetched more than $5 million this year. So far, the most expensive Los Feliz home sold this year was a nearly 12,000-square-foot Italianate-style estate that went for $9.3 million.
Mount Washington
Construction of a two-story, single-family home has been approved for 621 E. Frontenac Ave. The structure will have 2,472 square feet of floor space on a 9,498-square-foot lot – fronting along a substandard hillside limited street.