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Listed by Argineh Mailian • Compass
$2,999,999
Est. payment /mo
8,074 Sqft Lot
UPDATED:
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID GD-26231909
Lot Size 8,074 Sqft
Source California Regional Multiple Listing Service (CRMLS)
Property Description
RTI DEVELOPMENT OPPORTUNITY | 17-UNIT MULTIFAMILY PROJECT | EAST HOLLYWOOD
Rare opportunity to acquire an approximately 8,000-square-foot VACANT development lot/land at 1309 N. Mariposa Avenue, Los Angeles, CA 90027, offered with permitted plans for a 17-unit, four-story multifamily development with subterranean parking. The project is RTI (Ready to Issue), allowing a developer to step into a substantially completed entitlement and permitting process and move toward construction without starting the lengthy approval process from scratch.
The thoughtfully designed project features 14 two-bedroom units and 3 one-bedroom units, along with 27 parking spaces. The approved TOC Tier 3 project utilizes a significant density increase over the property's base zoning capacity, maximizing the development potential of this well-located R3 site.
An exceptional opportunity for a developer or investor seeking a shovel-ready Los Angeles multifamily project where substantial time, planning, design and entitlement work has already been completed.
Buyer to independently verify all plans, permits, approvals, RTI status, zoning, unit mix, affordable housing requirements, development incentives and other property information with the City of Los Angeles and appropriate agencies. However, RTI docs and plans and permits can all be provided to buyer for review.
The project incorporates the required affordable housing component, including one Extremely Low Income unit and two Very Low Income units, while the remaining units are unrestricted, creating an attractive mix for a long-term multifamily investment.
Located in the heart of East Hollywood, the property offers excellent access to Hollywood, Los Feliz, Silver Lake, Virgil Village and Koreatown, with nearby employment, dining, entertainment and neighborhood amenities.
With the existing improvements removed and the property now a vacant lot, a buyer can avoid many of the uncertainties associated with tenant relocation and demolition and focus on advancing the project toward construction.
Listing Agent: Info: Argineh Mailian 818.427.1220 | argineh.mailian@compass.com
Rare opportunity to acquire an approximately 8,000-square-foot VACANT development lot/land at 1309 N. Mariposa Avenue, Los Angeles, CA 90027, offered with permitted plans for a 17-unit, four-story multifamily development with subterranean parking. The project is RTI (Ready to Issue), allowing a developer to step into a substantially completed entitlement and permitting process and move toward construction without starting the lengthy approval process from scratch.
The thoughtfully designed project features 14 two-bedroom units and 3 one-bedroom units, along with 27 parking spaces. The approved TOC Tier 3 project utilizes a significant density increase over the property's base zoning capacity, maximizing the development potential of this well-located R3 site.
An exceptional opportunity for a developer or investor seeking a shovel-ready Los Angeles multifamily project where substantial time, planning, design and entitlement work has already been completed.
Buyer to independently verify all plans, permits, approvals, RTI status, zoning, unit mix, affordable housing requirements, development incentives and other property information with the City of Los Angeles and appropriate agencies. However, RTI docs and plans and permits can all be provided to buyer for review.
The project incorporates the required affordable housing component, including one Extremely Low Income unit and two Very Low Income units, while the remaining units are unrestricted, creating an attractive mix for a long-term multifamily investment.
Located in the heart of East Hollywood, the property offers excellent access to Hollywood, Los Feliz, Silver Lake, Virgil Village and Koreatown, with nearby employment, dining, entertainment and neighborhood amenities.
With the existing improvements removed and the property now a vacant lot, a buyer can avoid many of the uncertainties associated with tenant relocation and demolition and focus on advancing the project toward construction.
Listing Agent: Info: Argineh Mailian 818.427.1220 | argineh.mailian@compass.com
Location
State CA
County Los Angeles
Area C20 - Hollywood
Zoning R3-1
Exterior
Community Features Curbs, Sidewalks, Urban
Utilities Available Sewer Available, Electricity Available, Natural Gas Available
View Y/N Yes
View Mountain(s)
Building
Lot Description Level, Lot 6500-9999, Rectangular Lot, Value In Land
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Nearby Locations
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John R Thompson
Broker/Owner License ID: 01200900
Broker/Owner License ID: 01200900