$ 2,550,000
1801 N Normandie Ave Los Angeles, CA 90027
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REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 2,550,000
Est. payment /mo
Active
1801 N Normandie Ave Los Angeles, CA 90027
0.26 Acres Lot
UPDATED:
05/16/2024 07:01 AM
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 24-389425
Lot Size 0.262 Acres
Acres 0.2615
Property Description
We are pleased to present a large 11,389 square foot (SF) lot located at 1801 North Normandie Avenue in Los Feliz, California. The property is situated in between Hollywood Boulevard to the south and Franklin Avenue to the north. This offering is positioned on one (1) parcel totaling 11,389 square feet (SF) of land with a zoning ordinance of LAR3. This allows for fourteen units (14) units by-right. Additionally, this offering is granted ED1 eligibility, a recently passed program that allows an expedited process to 100% affordable developments. If used in conjunction with the State Density Bonus code 65915-65918, an ED1 project would have no maximum density, an allowance of three (3) additional stories and thirty-three (33) additional feet in height, and no parking requirement due to AB 2097. Five (5) additional concessions or incentives are granted under the State Density Bonus program. There is potential to stack these incentives with other programs such as TOC or the Los Angeles Density Bonus program, Buyer to verify. 1801 North Normandie currently has 5 units which offers a developer some income as they go through entitlements. The subject property is located in one of the best neighborhoods Los Angeles has to offer with quick access to the Hollywood Walk of Fame, Los Feliz Village, and Barnsdall Art Park. Tenants will enjoy having easy access to the -101 freeway and Hollywood Boulevard. Positioned in a prime Los Feliz location, this offering presents an excellent opportunity for an astute developer to capitalize on maximizing density and income with ED1 in a core market of Los Angeles.
Location
State CA
County Los Angeles
Area Los Feliz
Zoning LAR3
Exterior
View Y/N Yes
View City, Hills, Landmark
Building
Lot Description Lot Shape-Rectangular, Value In Land, Single Lot
Others
Special Listing Condition Standard
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Listed by Marcus & Millichap