1222 N Beachwood DR Los Angeles, CA 90038
UPDATED:
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 219136692
HOA Y/N No
Lot Size 6,752 Sqft
Property Description
exceptional residential development opportunity with RTI (ready-to-issue)
permits in place, located in the highly coveted Hollywood 90038 zip
code. The project is fully entitled, including a complete architectural set,
schematics, and budgets (available upon request), and is approved for 8
Market Rate and 3 Low Income units. This modern 4-story development
will feature 11 thoughtfully designed units with a well-balanced unit mix,
and first-floor parking with 14 vehicle spaces and 24 bicycle spaces (20
long-term and 4 short-term).
With a total area of 11,107 square feet and 9,547 square feet of livable
space, this opportunity appeals to a diverse range of tenants seeking to
experience Hollywood's vibrant cultural scene. The 6,752-square-foot lot
is zoned R3 and contains no existing structure, sparing investors the
financial burden of tenant buy-outs or demolition. The property's location
is rated as Very Walkable, with a Walk Score of 88.
Located within an Opportunity Zone and designated as a TOC Tier 2
area, 1222 N Beachwood Dr offers strategic tax incentives (Buyer to
verify) and increased density options that align with the city's vision for
urban growth and housing. The flexible layout allows for various
configurations, supporting the development of upscale apartments,
boutique condominiums, or custom-designed units that cater to
Hollywood's diverse population of professionals, creatives, and families.
On-site parking adds convenience and accessibility for residents—an
invaluable feature in this high-demand neighborhood.
The property's prime Hollywood location places it within close proximity
to iconic landmarks like the Hollywood Walk of Fame, Sunset Boulevard,
and Melrose Avenue, providing easy access to an array of dining,
entertainment, and shopping options. The area's strong rental demand
and ongoing revitalization make this project a promising investment,
positioned for both immediate appeal and long-term appreciation.
This development site offers investors a unique opportunity to contribute
to Hollywood's transformation, capturing the essence of L.A.'s dynamic
lifestyle while establishing a residential landmark in one of the city's most
desirable neighborhoods.
Location
State CA
County Los Angeles
Area C20 - Hollywood
Exterior
View Y/N false
Private Pool No
Building
Sewer Public Hookup Available
Others
Senior Community No
Special Listing Condition Standard
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