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$ 1,700,000
Est. payment | /mo
6,425 Sqft Lot
$ 1,700,000
Est. payment | /mo
6,425 Sqft Lot
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 25557921
HOA Y/N No
Lot Size 6,425 Sqft
Property Description
We are pleased to present 5725 Melrose Ave, a vacant lot totaling 6,424 SF zoned C2-1D in a Tier 3 TOC located in a prime location on Melrose Ave in the Hancock Park & Larchmont Village neighborhood of Los Angeles. Ideal multifamily development opportunity with the ability to build 17 units by-right, 28 units if the TOC incentives are utilized, or additional density via ED-1 (Buyer to verify). Ideal location just down the street from Wilshire Country Club, Los Angeles Tennis Club and the Marlborough School; walking distance to numerous retail amenities along N Larchmont Blvd and half a mile from Paramount Studios; high walk score of 93. Located in a submarket with strong demographics; average household income of $91,486 within a 5-mile radius of the subject property and median home value of over $1 MM within two miles. Central location with an easy commute throughout Los Angeles to Hollywood, West Hollywood, Beverly Hills, Los Feliz, and La Brea. Unique opportunity to acquire a vacant lot with strong density potential and no relocation required.
Location
State CA
County Los Angeles
Area C20 - Hollywood
Zoning C2-1D
Interior
Fireplace No
Exterior
View Y/N No
View None
Building
New Construction No
Others
Senior Community No
Tax ID 5534036019
Special Listing Condition Standard
Listed by Neema Ahadian Marcus & Millichap