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$1,900,000
Est. payment /mo
6,751 Sqft Lot
UPDATED:
12/05/2024 03:39 AM
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
Subdivision Not Applicable-1
MLS Listing ID 219119775DA
HOA Y/N Yes
Lot Size 6,751 Sqft
Property Description
Prime Net Lease is pleased to present 1222 N Beachwood Dr, an exceptional residential development opportunity with RTI (ready-to-issue) permits in place, located in the highly coveted Hollywood 90038 zip code. The project is fully entitled, including a complete architectural set, schematics, and budgets (available upon request), and is approved for 8 Market Rate and 3 Low Income units. This modern 4-story development will feature 11 thoughtfully designed units with a well-balanced unit mix, and first-floor parking with 14 vehicle spaces and 24 bicycle spaces (20 long-term and 4 short-term).With a total area of 11,107 square feet and 9,547 square feet of livable space, this opportunity appeals to a diverse range of tenants seeking to experience Hollywood's vibrant cultural scene. The 6,752-square-foot lot is zoned R3 and contains no existing structure, sparing investors the financial burden of tenant buy-outs or demolition. The property's location is rated as Very Walkable, with a Walk Score of 88.Located within an Opportunity Zone and designated as a TOC Tier 2 area, 1222 N Beachwood Dr offers strategic tax incentives (Buyer to verify) and increased density options that align with the city's vision for urban growth and housing.
Location
State CA
County Los Angeles
Area C20 - Hollywood
Zoning R-3
Interior
Fireplace No
Exterior
View Y/N No
Others
Senior Community No
Tax ID 5534013018
Acceptable Financing Contract, 1031 Exchange
Listing Terms Contract, 1031 Exchange
Special Listing Condition Standard
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Listed by Paul Matusik • Prime Desert Estates