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6575 Fountain Ave

Los Angeles, CA 90028
  • $1,895,000
  • STATUS: Active
  • ON SITE: 172 Days
  • ID#: 23-310631
UPDATED: 46 min ago
$1,895,000
  • 12
    BEDS
  • 0.16
    ACRES
  • 12
    BATHS
  • 0
    1/2 BATHS
  • 16,080
    SQFT
  • $118
    $/SQFT
Neighborhood:
Type:
Single-Family Home
Built:
1920
County:
Area:

School Ratings & Info

Description

**FULLY APPROVED PLANS w/ RTI PERMITS** We're pleased to present this one-of-a-kind, fully entitled Ready-To-Issue (RTI) development opportunity in the desirable and growing Hollywood neighborhood. Boasting a high Walk Score, the proposed project is situated a short distance from Sunset Blvd and is surrounded by a plethora of amenities. Utilizing TOC incentives, the development consists of 12 units with a contemporary design, featuring a 4-story mid-rise wood-frame structure, 14 onsite subterranean parking spaces & a unit mix of luxury one & two bedroom units. Entitlements are complete, allowing a buyer to begin construction immediately. Located in an exclusive HUD approved 'Opportunity Zone', this LAR3 - 1XL property sits on a spacious 7,000SF pad with approved plans to build up to approximately 22,870SF (16,080SF Residential Living Space plus 6,790SF Subterranean Garage). Priced to provide compelling exit metrics for a developer/buyer. See Offering Memo for a detailed analysis of residual land value. **SELLER FINANCING may be available for qualified buyers**

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2024-03-03T17:43:14.4. 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.
www.trulinerealty.com/homes/143334784
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6575 Fountain Ave Los Angeles, CA 90028

  • Price: $1,895,000
  • Status: Active
  • On Site: 172 Days
  • Updated: 46 min ago
  • ID#: 23-310631
12
Beds
12
Baths
0
½ Baths
0.16
Acres
16,080
SQFT
$118
$/SQFT
1920
Built
Neighborhood:
Hollywood
County:
Los Angeles
Area:
Hollywood
Property Description
**FULLY APPROVED PLANS w/ RTI PERMITS** We're pleased to present this one-of-a-kind, fully entitled Ready-To-Issue (RTI) development opportunity in the desirable and growing Hollywood neighborhood. Boasting a high Walk Score, the proposed project is situated a short distance from Sunset Blvd and is surrounded by a plethora of amenities. Utilizing TOC incentives, the development consists of 12 units with a contemporary design, featuring a 4-story mid-rise wood-frame structure, 14 onsite subterranean parking spaces & a unit mix of luxury one & two bedroom units. Entitlements are complete, allowing a buyer to begin construction immediately. Located in an exclusive HUD approved 'Opportunity Zone', this LAR3 - 1XL property sits on a spacious 7,000SF pad with approved plans to build up to approximately 22,870SF (16,080SF Residential Living Space plus 6,790SF Subterranean Garage). Priced to provide compelling exit metrics for a developer/buyer. See Offering Memo for a detailed analysis of residual land value. **SELLER FINANCING may be available for qualified buyers**
Exterior Features

Building Type Detached Cross Streets Fountain Ave & Seward Street Direction Faces East Levels One Lot Size Area 6998 Other Structures None Parking Garage None Pool Description None Pool YN No Spa None Spa YN No Style Tear-Down Total Parking 0 View Description City LightsCity View YN Yes

Interior Features

Common Walls Detached/No Common Walls Cooling None Den No Dining Room No Equipment None Family Room No Fireplace Rooms None Flooring Hardwood Furnished Unfurnished Heating None Laundry None One Quarter Baths 0 Rooms Other

Property Features

Disclosures Building Plans AvailableOwner Has R.E. License Hoa Yn No Number Of Units 12 Property Condition Tear Down Property Sub Type Single Family Residence Sale Type Standard Source Living Area Plans Source Lot Size Area Assessor Year Built Source Vendor Enhanced Zoning LAR3

Listing provided courtesy of Jonathan Massaband DRE#01745021 of Onyx Realty Inc.: 310-275-3915.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2024-03-03T17:43:14.4. 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.
 
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TruLine Realty
2999 Overland Ave., Suite 116
Los Angeles CA, 90064