Executive Summary

The Neema Group is pleased to present an affordable housing development opportunity at 801-807 Waterloo St, located in the prime Echo Park neighborhood. The 12,613 SF double lot can be delivered fully entitled for 131 income-restricted housing units.

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The project’s prime location offers immediate access to major employment centers, transit, and lifestyle amenities located in both DTLA and Silver Lake, making it ideal for a high-velocity lease-up strategy. This presents a rare opportunity for a mission-driven developer to provide high-quality affordable housing in a market with strong demand and a significant supply gap.

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Plans call for a highly efficient seven-story mid-rise building, utilizing Type III over Type I construction to optimize cost-effectiveness.

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The completed project will span ~65,000 SF, featuring a well-balanced unit mix of 84 singles and 47 one-bedrooms. Additionally, the development includes an office space, multiple open spaces for recreational or supportive services, including a rooftop deck, serving as a communal gathering area with expansive city views.

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There is a structure in place for a buyer to receive the Welfare Tax Exemption, contact agents for additional details.

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The site can be delivered RTI after completion of the City plan check process allowing a developer to break ground immediately. Current pricing reflects delivery with full City entitlements (pre plan check processing), a BOE-approved welfare exemption, and a 50% Design Development plan package—offering significant time and cost savings for groups looking to accelerate timelines and maximize return.

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High Walk Score of 89, 801-807 Waterloo St is located 1.3 miles from the Metro Red Line and walking distance to multiple Metro Local Line bus stops along N Alvarado St.

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Central location that is beneficial for residents that commute throughout the city with close proximity to Downtown Los Angeles, Koreatown, Westlake, and Silver Lake, close proximity to retail along Sunset Blvd as well as the LA Downtown Medical Center.

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The rental market continues to grow, illustrated through the plentiful new developments currently under construction in the area such as 2225 W Sunset Blvd (176 units), 3004 W Sunset Blvd (74 units), and Inspire Echo Park at 355 Glendale Blvd (90 units).