We are pleased to present a prime RTI Development Opportunity in North Hollywood. This corner lot property comes with approved plans to convert the existing duplex into a brand new 3-story triplex plus two detached ADUs, resulting in a five-unit project featuring an attractive unit mix of two 2-bedroom/2-bath units,… Read More 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 configuration allows for optimal design efficiency and site layout. The property is ideally located approximately one mile from the NOHO Arts District and the NOHO West Shopping Complex, offering convenient access to popular dining, shopping, entertainment, and transportation options. RTI plans and construction cost estimate are available upon request, allowing a buyer to move forward with development immediately. The completed project is projected to generate approximately $21,000 per month in gross rental income. The property currently consists of a tenant-occupied duplex, though it may be delivered vacant at the close of escrow. No tenant relocation or SB 8 clearance will be required for the approved conversion + addition, creating a streamlined path to construction. Contact listing agent for plans, reports, and additional details! Read Less
Property listed by Keller Williams Beverly Hills, Daniel Shamooelian 310-259-7556
Listing Snapshot
Days Online
0
Last Updated
Beds
4
Square Ft.
1,725
Lot Size
0.16 Acres
Year Built
1950
MLS Number
26665193
Additional Details
Building
Built in 1950, Living area: 1725.0, 1 building, Levels: One
Income
Gross Income: $39,600, Net Operating Income: $21,019
Lot
0.1623 acres
Parking
Garage
Taxes
Parcel Number: 2337011020, Zoning: LARD2
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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