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$1,125,000
Est. payment /mo
6,793 Sqft Lot
UPDATED:
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 26103139
Lot Size 6,793 Sqft
Acres 0.1559
Property Description
Ready-to-issue (RTI), 100% affordable development opportunity in North Hollywood. 11405 W Archwood St / 6701 N Tujunga Ave is a 6,790 SF corner lot, zoned RD1.5-1, with plans approved for a new 4-story, 22-unit Type V-A apartment building under ED 1 and AB 2345. The project uses AB 2345 base incentives, including unlimited density, no required parking and a 33-foot height increase. It is not an SB 330 project and requires no zone change, variance or general plan amendment.The design delivers approx. 14,513 SF of gross building area: 19 one-bedroom and 3 two-bedroom units, including 1 manager's unit. Features include an elevator, approx. 1,885 SF of rooftop common open space, an on-site laundry room, long-term bike parking and full NFPA-13 fire sprinklers. The project is 100% privately funded, with no tax credits and no public financing, so the buyer controls the capital stack and the timeline.Rents can be underwritten to HACLA Section 8 payment standards for zip code 91606, for projected gross potential rent of approx. $619,000 per year. A welfare property tax exemption under R&TC Section 214 offers additional upside to operating expenses. The site is served by LA Metro Line 165 and LADOT DASH North Hollywood.Architectural, civil and structural plan sets are complete. A buyer steps in with entitlement and plan-check risk behind them and a clear path to construction. Offering memorandum, plans and pro forma available on request. Buyer to verify all information.
Location
State CA
County Los Angeles
Area North Hollywood
Zoning LARD1.5
Exterior
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Listed by The Agency
NEARBY SCHOOL & BUSINESS
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