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… Read More 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. Read Less
Property listed by Keller Williams Beverly Hills, Daniel Shamooelian 310-259-7556
Listing Snapshot
Days Online
191
Last Updated
Beds
4
3/4 Baths
2
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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