1524 N ALEXANDRIA AVE

LOS ANGELES, CA, 90027

$1,995,000

$1,763 per ft²
$1,995,000
$1,763 per ft²
Active
Active
 - For Sale
beds
2 Beds
baths
1 Bath
carpenters-square
1,131 ft²
property_type
Residential
calendar
Built 1920
We are pleased to present a development opportunity in the East Hollywood submarket located at 1524 N Alexandria Ave, which is located within walking distance to Barnsdall Art Park, Kaiser Permanente Los Angeles Medical Center, Children's Hospital Los Angeles, and Hollywood Presbyterian Medical Center. The property is located in an opportunity zone just north of Sunset Blvd and sits on a 6,832 square foot lot zoned RD1.5-1XL. An investor will be able to build four units and may be able to utilize SB 13, AB 68 and AB 881 to add one or two additional Accessory Dwelling Units to the future development. Although the zoning does include a Tier 3 TOC, an investor will not be able to utilize the bonus because the zoning will not allow for at least 5 units by-right. The property currently does not have entitlements or approved plans for development. There is currently an occupied 1,131 SF single family home being rented for $2,900/month that can provide rental income during the entitlement period, due to the high demand for rentals in the East Hollywood submarket and can help off-set some of the carrying costs that a development project will typically include. The home can also be delivered vacant, if the Buyer chooses so, but most importantly, there will not be any rent control restrictions on the redevelopment project since the home is not subject to LA Rent Stabilization Ordinance. It is also typical for 4-unit development projects have a more expedited permitting process and can potentially break ground in shorter time periods, since they are classified as residential projects.
MLS® ID:
22-166611
Listed:
6/9/22
Updated:
7/6/22

Interior Features

Total Bedrooms
2
Full Bathrooms
1
Laundry Description
In Unit
Floor Description
Laminate
Fireplace
None
Cooling
Window Unit(s)
Heating
Wall

Exterior/Building Features

Lot Size
6,832 ft² lot
Architectural Style
California Bungalow

Other Property Details

Garage
No
Parking
Driveway
Parking Total
1.0
View
Y
County
Los Angeles
Pool
No
Pool Description
None
Total Stories
1
Zoning
LARD1.5

 

Courtesy of Tadeh Minassian, Marcus & Millichap

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Karen Menjivar shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2022 Combined L.A./Westside MLS. All rights reserved.

Data last updated 7/6/22

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