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$5,295,000
Est. payment /mo
0.55 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 25575721
Lot Size 0.547 Acres
Acres 0.614
Property Description
Rare opportunity to acquire three contiguous vacant parcels on the corner of Taft Ave and Franklin Ave in Hollywood, LA 90028. The total size of all three lots is approximately 23,760 SF and the zoning for all three properties is RD.15-1XL. The dimensions of the lots are 135 SF of frontage on Franklin Ave by 176 SF on Taft Ave. All three of the lots qualify for Tier 3 of the Transit Oriented Communities Plan (TOC). The zoning and site supports a variety different development options with significant density and height bonuses under a variety of state and local programs. A previous ED1 project was approved, demonstrating feasibility for expedited housing development.Multiple development strategies are possible, with some of those being: **D1 streamlined affordable housing, ***CHIP OC Density Bonus project, **Small Lot Subdivision, **By-right multifamily project with TOC Tier 3 incentives. This vacant development site is in a strong rental and resale market strategic play for developers targeting a high-growth, supply-constrained submarket. The prime location is walking distance to Metro, Franklin Village, Griffith Park, and Hollywood nightlife.
Location
State CA
County Los Angeles
Area Hollywood
Zoning LARD1.5
Exterior
View Y/N Yes
View Hills
Others
Special Listing Condition Standard
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Listed by Miller & Desatnik Realty Co.
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