6400 Farmdale Ave

North Hollywood, CA, 91606

$1,395,000

$1,395,000
Active
Active
 - For Sale
property_type
Land
RTI to build 6 units - Unique opportunity to acquire a shovel-ready vacant corner lot with all structures already demolished, RTI as of 9-11-22 to build 6 new units (3 duplexes), with a unit mix of one (1) four-bedroom, four (4) three-bedrooms, and one (1) two-bedroom unit. The four-bedroom unit is "townhouse style" at 1,824 sf, the three-bedroom units are 950 to 970 square feet (single-story), and the two-bedroom unit is 795 sf. The plans were submitted in 2021 thus avoiding any low-income unit requirements of the new SB8 law that went into effect on 1/01/22. Additionally, the property is located in an opportunity zone. This is an amazing opportunity for a builder who is ready to start their next project immediately, without having to deal with the time, headaches, and cost of the entitlement process with the city, while also avoiding the need to negotiate with any tenants to vacate, all while being able to build a fully market rate project whereas most other projects are now subject to some level of low-income requirement due to the new SB8 law.
MLS® ID:
22-200409
Listed:
9/15/22
Updated:
10/4/22
Coldwell Banker Realty
Barry Dantagnan

Exterior/Building Features

Lot Size
7,743 ft² lot

Other Property Details

Garage
No
Parking
N
View
Y
County
Los Angeles
Pool
No
Zoning
LAR3

 

Courtesy of Ardy Ishal, BRC Advisors- BH

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Barry Dantagnan shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2022 Combined L.A./Westside MLS. All rights reserved.

Data last updated 10/4/22

Coldwell Banker Realty
Barry Dantagnan
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