Description
Perhaps the last of its kind; a true RTI opportunity to build 5 Small Lot Subdivision Ordinance ("SLO") Homes, designed by Jay Vanos Architects, a pioneer in the Small Lot Subdivision design space. Restrictive redevelopment guidelines by the City of LA limit this product type, making this a VERY rare offering. Sale includes plans and permits for 5 free-standing, tri-level contemporary homes, each with their own address, APN, private 2-car garage, direct entrance, soaring ceilings, and private roof-top deck. The first 4 homes feature 3 Beds, 3 Baths, measuring approximately 1,900 SF (not including garage or roof-top deck). The 5th, rear home is the largest, featuring 4 Beds, 4 1/2 Baths, measuring approximately 2,400 SF (not including garage or roof-top deck). Recent comps in the area are selling for approx. $1,000 / SF ($2.2M each home), making this a very attractive opportunity for the astute investor, developer and 1031 Buyer. Lease comps in the $6,000+ / month / home range. Situated between West Hollywood and the renaissance of Hollywood proper, with endless lifestyle destinations and amenities in close proximity, including Plummer Park, Runyon Canyon, Whole Foods, Target, Horses, L'Antica Pizzeria, Equinox, Netflix, Dream Hotel and the Hollywood Media District. A perfect solution for the LA housing shortage. Priced to sell and won't last long. RTI plans will be made available to pre-qualified Buyers. Existing structure to be demolished by COE. Delivered shovel ready and RTI. Buyer to pay permit fees. Drive-by ONLY.
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Listing Agent: Allen Roth 01272304 Courtesy of: Sotheby's International Realty "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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Updated: 1st July, 2022 2:38 PM (UTC)
