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$1,150,000
Est. payment /mo
7,908 Sqft Lot
UPDATED:
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 25615317
Lot Size 7,908 Sqft
Acres 0.1815
Property Description
We are proud to present for sale a redevelopment opportunity in the North Hollywood area near Burbank Airport. Boasting 7,905 SF of land with 60 feet of frontage, this RD1.5 Tier 2 TOC lot comes with Entitlements for 48 Affordable Units, which can be provided as they currently are, in their early stage of submittal and design. The property features an Ellis'd vacant duplex, situated in a Low Medium II Residential General Plan area, in an Opportunity Zone (QOZ), benefitting from a High Quality Transit Corridor within half a mile, and from a Transit Oriented Incentive Area (TOIA) 1. Utilize the duplex for conventional financing, while renting it out short term while designing the perfect project with the new rules allowing you to maximize what can be built on site, or focus on market rate units with some low income offerings, adding ADUs and blending into the neighborhood! Just north of the NoHo Arts District, with easy access to the Airport and the concentration of jobs in the area, the 170 freeway, the new NoHo West, markets, nightlife and just about anything that your future tenants may be looking for, the area has seen a tremendous rebirth over the last two decades. The existing Project will not be delivered RTI, but with today's streamlined submittal process, get ready to break ground in no time at all with the existing Project or a brand new design!
Location
State CA
County Los Angeles
Area North Hollywood
Zoning RD1.5 TOC Tier 2
Exterior
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Building
Sewer In Street
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Special Listing Condition Standard
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Listed by Keller Williams Beverly Hills
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