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Listed by Parastou Asadian • Equity Union
$1,400,000
Est. payment /mo
3,712 SqFt
UPDATED:
12/20/2024 10:05 PM
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 3,712 sqft
Price per Sqft $377
MLS Listing ID CRSR24249700
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1919
Lot Size 6,772 Sqft
Property Description
First time on the market in over 50 years! Investors and developers, don’t miss this prime opportunity in the heart of Hollywood! This 4-unit apartment building features spacious 1-bedroom, 1-bathroom units, each approximately 930 sq ft (one is currently tenant occupied), and sits on a lot of approximately 6,800 sq ft zoned LARD1.5. The property offers substantial redevelopment potential, including eligibility for Los Angeles' Transit Oriented Communities (TOC) tier 3 incentives, which could allow up to 70% more units with affordable housing set-asides, reduced parking requirements (as low as 0.5 spaces per unit), and additional height or FAR bonuses. Perfectly situated, this property is moments from the iconic Hollywood Walk of Fame, Griffith Park and Observatory for hiking and scenic views, and Runyon Canyon for outdoor enthusiasts. It is surrounded by world-class shopping, dining, and entertainment options, including Hollywood & Highland, Sunset Strip, and the Melrose Avenue retail corridor. Enjoy easy access to nearby neighborhoods like West Hollywood, Los Feliz, and Silver Lake, all popular hubs for arts, culture, and nightlife. Proximity to major freeways like the 101 ensures seamless connectivity to Downtown LA, Burbank, and Studio City. Whether repositioning the asset o
Location
State CA
County Los Angeles
Interior
Cooling No Air Conditioning
Flooring Tile, Wood
Fireplace No
Laundry No Hookups
Exterior
View None
Building
Lot Description Front Yard, Landscape Misc
Water Public
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