NEW PRICE! RTI 5-UNIT DEVELOPMENT OPPORTUNITY IN NORTH HOLLYWOOD! We are pleased to present a prime development opportunity featuring approved plans to convert the existing duplex into a brand-new 3-story triplex plus two detached ADUs, resulting in a five-unit project totaling approximately 8,174 SF. The approved unit mix consists of two 2-bedroom/2-bath units, one 3-bedroom/3-bath unit, and two 4-bedroom/3-bath units. Situated on a flat 7,065 SF RD2-zoned corner lot, the property offers an attractive development opportunity approximately one mile from the NOHO Arts District and NOHO West, with convenient access to dining, shopping, entertainment and transportation. The existing duplex is currently tenant occupied and will be delivered with the tenants in place. Each unit currently pays approximately $1,600/month ($3,200/month total). RTI plans are available upon request, allowing a buyer to acquire an already-entitled project and determine the timing of redevelopment. Upon completion, the five-unit project is projected to generate approximately $21,000/month in gross rental income (buyer to verify). Now offered at $925,000. Contact listing agent for approved plans, reports and additional details.
| MLS # | 26665193 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1950 |
| Days On Site | 224 |
| Listing Provided By | Keller Williams Beverly Hills | Daniel Shamooelian |
| Bed(s) | 4 |
|---|---|
| Bath(s) | 2 |
| SQ Feet | 1,725 |
| Story(s) | 1 |
| Units | 2 |
| Building(s) | 1 |
| Zoning | LARD2 |
| Acreage | 0.16 |
| Parking Features | Garage |
|---|---|
| Garage Yes / No | Yes |
| State | CA |
|---|---|
| County | Los Angeles |
| City | North Hollywood |
| Zip Code | 91606 |
| Area | NHO North Hollywood |
| Listing VS Median (in 91606) | |
Price: $925,000 low | high Med: $799,999 sqft: 1,725 low | high Med: 1,205 $ / sqft: $536 low | high Med: $664 On site: 224 low | high Med: 25 | |
| State | CA |
|---|---|
| County | Los Angeles |
| City | North Hollywood |
| Zip Code | 91606 |
| Area | NHO North Hollywood |
| Listing VS Median (in 91606) | |
Price: $925,000 low | high Med: $799,999 sqft: 1,725 low | high Med: 1,205 $ / sqft: $536 low | high Med: $664 On site: 224 low | high Med: 25 | |