Listing by: Jonathan Massaband, Onyx Realty Inc.
12 Beds
12 Baths
16,080 SqFt
Active
**FULLY APPROVED PLANS w/ RTI PERMITS** We're pleased to present this one-of-a-kind, fully entitled Ready-To-Issue (RTI) development opportunity in the desirable and growing Hollywood neighborhood. Boasting a high Walk Score, the proposed project is situated a short distance from Sunset Blvd and is surrounded by a plethora of amenities. Utilizing TOC incentives, the development consists of 12 units with a contemporary design, featuring a 4-story mid-rise wood-frame structure, 14 onsite subterranean parking spaces & a unit mix of luxury one & two bedroom units. Entitlements are complete, allowing a buyer to begin construction immediately. Located in an exclusive HUD approved 'Opportunity Zone', this LAR3 - 1XL property sits on a spacious 7,000SF pad with approved plans to build up to approximately 22,870SF (16,080SF Residential Living Space plus 6,790SF Subterranean Garage). Priced to provide compelling exit metrics for a developer/buyer. See Offering Memo for a detailed analysis of residual land value. **SELLER FINANCING may be available for qualified buyers**
Property Details | ||
|---|---|---|
| Price | $1,895,000 | |
| Bedrooms | 12 | |
| Full Baths | 12 | |
| Half Baths | 0 | |
| Total Baths | 12 | |
| Lot Size Area | 6998 | |
| Lot Size Area Units | Square Feet | |
| Acres | 0.1607 | |
| Property Type | Residential | |
| Sub type | SingleFamilyResidence | |
| MLS Sub type | Single Family Residence | |
| Stories | 4 | |
| Year Built | 1920 | |
| View | City Lights | |
| Heating | None | |
| Laundry Features | None | |
| Pool features | None | |
| Parking Description | None | |
| Parking Spaces | 0 | |
Geographic Data | ||
| Directions | Corner of Fountain Ave & Seward Street - 3 Blocks West of Cahuenga Blvd | |
| County | Los Angeles | |
| Latitude | 34.094531 | |
| Longitude | -118.333025 | |
| Market Area | C20 - Hollywood | |
Address Information | ||
| Address | 6575 Fountain Avenue, Los Angeles, CA 90028 | |
| Postal Code | 90028 | |
| City | Los Angeles | |
| State | CA | |
| Country | United States | |
Listing Information | ||
| Listing Office | Onyx Realty Inc. | |
| Listing Agent | Jonathan Massaband | |
| Buyer Agency Compensation | 2.250 | |
| Buyer Agency Compensation Type | % | |
| Compensation Disclaimer | The offer of compensation is made only to participants of the MLS where the listing is filed. | |
| Special listing conditions | Standard | |
MLS Information | ||
| Days on market | 225 | |
| MLS Status | Active | |
| Listing Date | Sep 12, 2023 | |
| Listing Last Modified | Apr 25, 2024 | |
| Tax ID | 5547028026 | |
| MLS Area | C20 - Hollywood | |
| MLS # | 23310631 | |
This information is believed to be accurate, but without any warranty.