Description

Located in Prime East Hollywood is this ready-to-issue (RTI) 17 unit multi-family development site that sits in an Opportunity Zone. The building will be comprised of 9 studios, 6 two-bed & two bath, and 2 three-bed & two-bath homes. This project will be delivered Ready-to-Issue with the possibility of having 4 Affordable Units with no Rent Control or 3 Affordable Units with Rent Control. The project offers developers the opportunity to build four-stories on top of an on grade podium which would house 9 parking spaces. The project site, which currently houses a vacant duplex, is situated just a half-mile away from the Vermont / Beverly Metro Subway Station, and is bordered by East Hollywood to the north, Silver Lake to the northeast, and Koreatown to the south.

Property Features

  • Project Sold Fully RTI (Ready to Issue)
  • Less than $73,000 per buildable door
  • Located in Opportunity Zone
  • 17 Total Unit Residential Project (currently a vacant duplex on site)
  • Opportunity to Build Four Stories on Top of an On-Grade Podium
  • Nine Separate Studios
  • Six Two Bedroom/Two Bathroom Models
  • Two Three Bedroom/Two Bathroom Models
  • Many Homes with Private Outdoor Space
  • 3 or 4 Units Reserved for Affordable Housing
  • 9 Parking Spaces
  • Located 1/2 Mile from the Vermont/Beverly Subway Station Near Los Angeles City College with Easy Access to the 101
  • Surrounded by Shops, Restaurants, Nightlife with a Great Walk Score of 77 (Very Walkable)

7999
Area Sq-ft

17
Bedrooms

9
Bathrooms

Property ID

549 N. Heliotrope Drive

Property Type

multifamily

Area

7999 Sq-ft

Property Status

sold

Price

$1,239,000.00

Agent

Oron Maher

Oron Maher

Director Broker

  • (310) 464-1453
  • OM@MaherCR.com
  • MaherCR.com

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