Description
Maher Commercial Realty is pleased to present this rare opportunity to purchase an RTI permit-ready 16-unit 100% market-rate development site in a hip East Hollywood location. The proposed property benefits from an excellent mix of eight 3-bedroom units, four 2-bedroom units, and four one bedroom units with a generous FAR of 33,635 square feet. There are 27 anticipated parking spaces for this proposed four-story project. Only one other RTI site has sold in this submarket since January, 2022, and only one of a handful of 100% market-rate RTI projects to come “for sale” in Los Angeles in the past year.
Great location adjacent to trendy Silverlake, Hollywood, and Rampart Village with easy access to the 101 Freeway and Western Avenue and two blocks north of the Vermont/Beverly Metro Station. Surrounded by shopping and dining including Sqirl, Jollibee, Melody and Taqueria El Charrito.
Renderings are for marketing purposes only and do not reflect the exact final finished product.
Property Features:
- Sale Price: $1,460,000
- Land Area Sq.Ft.: ±9,901
- Price/Sq.Ft. Land: $147/Sq.Ft.
- Building Code Floor Area Sq.Ft.: ±33,635
- Zoning Code Floor Area Sq.Ft.: ±18,662
- Net Rentable Sq.Ft.: ±15,160
- Unit Count: 16
- Average Unit Size: ±947 Sq.Ft.
- Unit Mix: Eight 3-Bed, Four 2-Bed, Four 1-Bed
- Bedroom Count: 36
- Parking: 27 Cars/18 Bikes
- Zoning: R4-1
- Specific Plan:Vermont/Western Station Neighborhood Area Plan, Subarea A
- Transit Oriented Communities: Tier 3
- Qualified Opportunity Zone: Yes
- APN: 5520-017-018
- Notes: Entitled without TOC density bonus, all units are market rate
