$5,500,000

1351 North Alta Vista Boulevard is an existing, character apartment building situated in a central location between West Hollywood, Hollywood and the Grove and the studios. The Property consists of one structure with a total of 6,296 square feet of rentable space on a single lot with 9,681 square feet of land zoned LAR3-1, TOC 1 multifamily. Originally constructed as a six unit apartment building, featuring attractive period architecture, the current fully occupied rents are well-below the market due to Los Angeles rent control restrictions. The owners have developed and paid for working plans ready for engineering planning. The plans are for a 26 unit luxury building over one level of subterranean parking. The unit mix is 2-studios, 5 one-bedrooms, 17 two-bedroom and 2 three-bedroom units. 20 market rate units, 3 RSO replacement units and 3 low income units. Only months away from Building and Safety submission. The property will be available for tour with an accepted offer. Reach out to us for the properties offering memorandum.