Description
We are proud to exclusively present for sale a redevelopment opportunity in prime East Hollywood, a mere stone's throw to the Metro Station at Santa Monica and Vermont and Los Angeles City College. The existing Single Family Residence is most likely a tear down, but a Buyer may elect to rehab the existing structure and build 2 additional units in the back through the existing RD1.5 zoning or as ADUs. No RSO or Ellis Act to worry about. Being in a high transit area, a new owner may build 8 +/- units with the Tier 4 TOC designation or through the use of a Density Bonus. Focusing on a 100% Affordable Housing Project can yield even higher density utilizing AB2345. This highly in-demand neighborhood boasts countless restaurants, nightlife options, live music venues, comedy houses and more. This is a Walker's Paradise, in Walk Score's words! Sandwiched between Hollywood and Los Feliz, this property sits close to all that Silver Lake, Echo Park, Downtown LA, Northeast LA...have to offer. Walk to the new Erewhon, to the Metro Station, to LA City College, to The Virgil, to 4100 Bar, to El Cid, to Courage Bagels, to Sqirl...it goes on and on. Hop on the Metro, free from traffic, and be almost anywhere in Los Angeles in practically no time at all. Property is in an Opportunity Zone!
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2BEDS
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0.16ACRES
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2BATHS
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01/2 BATHS
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1,484SQFT
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$842$/SQFT
School Ratings & Info
Description
We are proud to exclusively present for sale a redevelopment opportunity in prime East Hollywood, a mere stone's throw to the Metro Station at Santa Monica and Vermont and Los Angeles City College. The existing Single Family Residence is most likely a tear down, but a Buyer may elect to rehab the existing structure and build 2 additional units in the back through the existing RD1.5 zoning or as ADUs. No RSO or Ellis Act to worry about. Being in a high transit area, a new owner may build 8 +/- units with the Tier 4 TOC designation or through the use of a Density Bonus. Focusing on a 100% Affordable Housing Project can yield even higher density utilizing AB2345. This highly in-demand neighborhood boasts countless restaurants, nightlife options, live music venues, comedy houses and more. This is a Walker's Paradise, in Walk Score's words! Sandwiched between Hollywood and Los Feliz, this property sits close to all that Silver Lake, Echo Park, Downtown LA, Northeast LA...have to offer. Walk to the new Erewhon, to the Metro Station, to LA City College, to The Virgil, to 4100 Bar, to El Cid, to Courage Bagels, to Sqirl...it goes on and on. Hop on the Metro, free from traffic, and be almost anywhere in Los Angeles in practically no time at all. Property is in an Opportunity Zone!
Based on information from the Combined LA/Westside Multiple Listing Service as of 2023-03-29T07:42:41.877. 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.