Description
We are pleased to present for sale a PRIME C2 TOC Tier 3 Development Opportunity located in the heart of North Hollywood! Lot size is approximately 9,228 sqft, meaning a developer may be able to build 23 units by right or up to 41 units utilizing TOC incentives! (only ~$50,000/door with TOC!!!!) TOC Tier 3 verification from the city of LA can be provided to any buyer. The site is also located within a qualified Opportunity Zone which may provide for increased tax benefits. The property is located within walking distance to the Noho Red/Orange Line on Lankershim, as well as all the shopping, restaurants, and entertainment that the Noho Arts District has to offer its tenants! Current improvements include a commercial structure currently being used by the owner as an office (no tenant relocation or RSO to deal with here!!). Lots of new construction nearby. DO NOT MISS this opportunity to build in one of LA's hottest neighborhoods super close to NOHO ARTS! Buyer to verify all zoning with LADBS and all relevant city departments. Property to be sold As-Is, seller will not make any repairs. Contact listing agent for more details!
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