Description
We are pleased to present an excellent development opportunity near Santa Monica Blvd and Normandie Ave in East Hollywood! The existing structure on the lot consists of a fixer 6 unit building of which 4 UNITS WILL BE DELIVERED VACANT! Boasting a lot size of +/- 7,895 sq. ft., zoning of LARD1.5, and Tier 3 TOC designation, the potential possibilities for this property are endless! Buyer may be able to do affordable housing (ED-1) project on this lot! Buyer to investigate. The buyer can also reap tax benefits as the property is in an Opportunity Zone! There are 4 detached garages in the back lot, which can also be converted to one or more ADUs to generate additional rental income. Given the building's central location in the bustling rental Hollywood rental market and close to Virgil Village, Melrose Hill, and the numerous establishments across Santa Monica Blvd., this is a value-add investment not to be missed!
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0BEDS
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0.18ACRES
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01/2 BATHS
School Ratings & Info
Description
We are pleased to present an excellent development opportunity near Santa Monica Blvd and Normandie Ave in East Hollywood! The existing structure on the lot consists of a fixer 6 unit building of which 4 UNITS WILL BE DELIVERED VACANT! Boasting a lot size of +/- 7,895 sq. ft., zoning of LARD1.5, and Tier 3 TOC designation, the potential possibilities for this property are endless! Buyer may be able to do affordable housing (ED-1) project on this lot! Buyer to investigate. The buyer can also reap tax benefits as the property is in an Opportunity Zone! There are 4 detached garages in the back lot, which can also be converted to one or more ADUs to generate additional rental income. Given the building's central location in the bustling rental Hollywood rental market and close to Virgil Village, Melrose Hill, and the numerous establishments across Santa Monica Blvd., this is a value-add investment not to be missed!
Based on information from California Regional Multiple Listing Service, Inc. as of 2024-11-06T08:28:44.933. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Robin McCann | EXIT Alliance Realty. Licensed in the State of California, USA.