$2,550,000 $13,689 est/mo Sourced by Back At You

1801 N Normandie Avenue,Los Angeles, CA 90027

Los Angeles CA, 90027

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Description

We are pleased to present a large 11,389 square foot (SF) lot located at 1801 North Normandie Avenue in Los Feliz, California. The property is situated in between Hollywood Boulevard to the south and Franklin Avenue to the north. This offering is positioned on one (1) parcel totaling 11,389 square feet (SF) of land with a zoning ordinance of LAR3. This allows for fourteen units (14) units by-right. Additionally, this offering is granted ED1 eligibility, a recently passed program that allows an expedited process to 100% affordable developments. If used in conjunction with the State Density Bonus code 65915-65918, an ED1 project would have no maximum density, an allowance of three (3) additional stories and thirty-three (33) additional feet in height, and no parking requirement due to AB 2097. Five (5) additional concessions or incentives are granted under the State Density Bonus program. There is potential to stack these incentives with other programs such as TOC or the Los Angeles Density Bonus program, Buyer to verify. 1801 North Normandie currently has 5 units which offers a developer some income as they go through entitlements. The subject property is located in one of the best neighborhoods Los Angeles has to offer with quick access to the Hollywood Walk of Fame, Los Feliz Village, and Barnsdall Art Park. Tenants will enjoy having easy access to the -101 freeway and Hollywood Boulevard. Positioned in a prime Los Feliz location, this offering presents an excellent opportunity for an astute developer to capitalize on maximizing density and income with ED1 in a core market of Los Angeles.

Details

MLS#24389425
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Days On Site14
Listing Provided ByMarcus & Millichap 818-212-2700 | Jason Tuvia

Features

ZoningLAR3
Acreage0.26
Property ViewYes

Market Activity 90027

MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the California Regional MLS.

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Listings Checked: 35 seconds ago
StateCA
CountyLos Angeles
CityLos Angeles
Zip Code90027
Area637 Los Feliz
Listing VS Median (in 90027)
Price:
$2,550,000
low | high
Med:
$4,950,000
44.117647058824% of Average
On Site:
14
low | high
Med:
1030.000000
2% of Average
Sourced by Back At You
Listing Updated: May 21, 2024 at 9:08:45 AM PDT
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