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$ 2,298,888
Est. payment | /mo
10,798 Sqft Lot
$ 2,298,888
Est. payment | /mo
10,798 Sqft Lot
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC25041694
HOA Y/N No
Lot Size 10,798 Sqft
Property Description
Development Opportunity in North Hollywood – Approved Plans for 22 Residential Units and 5 ADUs
An exceptional opportunity awaits developers in the thriving North Hollywood area! This prime 10,803 SF lot comes with approved plans for a 22-unit residential building, along with 5 recreational ADU units. All necessary approvals have been secured, including LADWP's approval to serve the project, and the development will be delivered with fully approved MEP plans.
The property, which spans 10,805 square feet (0.248 acres), offers approximately 80 feet of frontage on North Riverton Avenue and a depth of around 135 feet. Currently, the site includes two residential buildings and a garage/storage structure. Zoned R3-1VL, TIER 3, and located within a State Enterprise Zone.
Key Features:
Approved plans for a 22-unit residential building and 5 recreational ADUs, one on each floor
Building height of 56 feet, with five residential floors and subterranean parking
Total development space of approximately 31,622 square feet (FAR of 4.3:1)
Unit mix includes 3 one-bedroom units, 17 two-bedroom units, and 2 three-bedroom units
23 on-site parking spaces
Buyer required to record the low-income covenant in their name for two units, pay necessary fees, and obtain the permit to complete the housing process
This property represents a rare opportunity to develop a high-density residential project in a rapidly growing and sought-after location. Don't miss out on this incredible development potential! For more information or to schedule a viewing, contact the listing agent today.
An exceptional opportunity awaits developers in the thriving North Hollywood area! This prime 10,803 SF lot comes with approved plans for a 22-unit residential building, along with 5 recreational ADU units. All necessary approvals have been secured, including LADWP's approval to serve the project, and the development will be delivered with fully approved MEP plans.
The property, which spans 10,805 square feet (0.248 acres), offers approximately 80 feet of frontage on North Riverton Avenue and a depth of around 135 feet. Currently, the site includes two residential buildings and a garage/storage structure. Zoned R3-1VL, TIER 3, and located within a State Enterprise Zone.
Key Features:
Approved plans for a 22-unit residential building and 5 recreational ADUs, one on each floor
Building height of 56 feet, with five residential floors and subterranean parking
Total development space of approximately 31,622 square feet (FAR of 4.3:1)
Unit mix includes 3 one-bedroom units, 17 two-bedroom units, and 2 three-bedroom units
23 on-site parking spaces
Buyer required to record the low-income covenant in their name for two units, pay necessary fees, and obtain the permit to complete the housing process
This property represents a rare opportunity to develop a high-density residential project in a rapidly growing and sought-after location. Don't miss out on this incredible development potential! For more information or to schedule a viewing, contact the listing agent today.
Location
State CA
County Los Angeles
Area 699 - Not Defined
Zoning LAR3
Interior
Fireplace No
Exterior
Community Features Curbs
View Y/N No
View None
Building
Water Public
New Construction No
Others
Senior Community No
Acceptable Financing 1031 Exchange
Listing Terms 1031 Exchange
Special Listing Condition Standard
Listed by Ramin Favakehi • Ramin Favakehi, Broker • 949-929-2630
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "