Residential Land For Sale
$2,300,000
616 N Juanita Ave
Los Angeles, California, United States
Listed By: Realtyww Info
Listed On: 09/11/2024
Listing ID: GL11238285 View More Details
Description
This is a prime multifamily development opportunity at 612-616 N Juanita Ave in East Hollywood, Los Angeles. This double lot spans 15, 003 square feet, zoned R3-1 in a Tier 3 TOC area, and is strategically locatedPriced at $153 per square foot, the property allows for the development of 19 units by right or up to 38 units utilizing the TOC density bonus. Preliminary plans include a 38-unit project featuring a mix of one- and two-bedroom units with subterranean parking. Developers can also explore eliminating612-616 N Juanita Avenear N Vermont Ave and Melrose Ave with easy access to the 101 Freeway. The site is centrally positioned close to Koreatown, Westlake, Silver Lake, and Downtown LA, with a high Walk Score of 90, ensuring proximity to public transportation and local amenities.parking requirements via AB 2097 or pursue unlimited density with a 100% affordable housing project under AB 2345. The property will be delivered vacant with structures already demolished, ready for immediate development. This opportunity provides a valuable chance to build in a sought-after LA neighborhood with various incentives to maximize project potential. Parcels: 5539-023-015 and 5539-023-014For more details:
Listed by: Neema Ahadian
