$2,200,000 Price Analysis   ♡   North Hollywood, CA 91606 Unknown bed 0 bath unknown SqFt ($0/SqFt) 0.37 acre lot. Listed 2024-05-11, Taxes $17,909 | Ⓧ USDA Ineligible due to property near Los Angeles |
Existing burned duplex sold for land value only.
There are ten reasons why we believe youve stumbled upon what could be a near-perfect affordable housing development land acquisition opportunity. The site possesses the optimal zoning and economic incentives in place like Opportunity Zone/ED-1 Eligible/TOC/AB 2334 Very Low VMT/AB 2097 Reduced Parking Areas, etc. etc. etc. The site is not in a specific plan or in a Redevelopment Area. The site is located next to a swath of R1 zoned property (free parking?). The site is located a block from grocery and CVS and, of course, Starbucksessentially a stones throw from every critical amenity. The site is walking distance (1-mile) from NoHo station (both rail and bus transportation) making it viable to live at the property and not own a car.
The site is an uncommonly large single lot consisting of 16, 316 SF of land with 60 of frontage. Its not too big of a project yet formattable enough to be compelling for a wide spectrum of investment and development organizations. The site is flat. The site will not require the displacement of tenants as th e duplex on site has been vacant for over 5+ years (abatement filed by City in 2019) after fires burned the property. The demo is not complete. Hence, the lookback period is 5 years. The likelihood of zero replacement units also opens of conversation for less dense development typologies. The site is 1, 800 feet from NoHo west; the perfect market rate rent barometer demonstrating rental rates for 1 beds about 30% higher than the deed restricted amounts mandated for 1 bed units under ED-1. The site enjoys immedite adjacency to a 10 unit building and 12 unit building to the north and south respectively. Hence, views from the proposed new project will not be affected likely for many years into the future (the likelihood of demolition of such buildings is low in the near term).
Presented by Francis Evanisko at
Evanisko Realty & Investment.
Property MLS #SR24095212 from CRMLS
Lot Size Acres: 0.3747
Lot Size Source: Assessor
Lot Size Square Feet: 16320
County: Los Angeles
Directions: Just north of Oxnard. Just east of Lankershim
Source Property Type: Land
Area: NHO - North Hollywood
Source Neighborhood: NHO - North Hollywood
Parcel Number: 2338006014
Postal Code Plus 4: 4816
Zoning: [Q]R3-1
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $331,120 + $1,156,295 $1,487,415 | $17,909 |
| 2021 | $324,628 + $1,133,623 $1,458,251 | $17,686 |
| 2020 | $321,300 + $1,122,000 $1,443,300 | $17,865 |
| 2019 | $315,000 + $1,100,000 $1,415,000 | $17,160 |
| 2018 | $67,291 + $86,959 $154,250 | $2,218 |
| 2017 | $65,972 + $85,254 $151,226 | $2,173 |
| 2016 | $64,679 + $83,583 $148,262 | $2,087 |
| 2015 | $63,708 + $82,328 $146,036 | $2,061 |
| 2014 | $62,461 + $80,716 $143,177 | $2,086 |
| 2013 | $62,179 + $80,352 $142,531 | $2,086 |
| 2012 | $60,960 + $78,777 $139,737 | $2,113 |
| 2010 | $59,765 + $77,233 $136,998 | $2,089 |
| 2009 | $59,460 + $76,839 $136,299 | $2,016 |
| 2009 | $59,319 + $76,656 $135,975 | $2,016 |
| 2008 | $58,295 + $75,333 $133,628 | $1,943 |
| 2007 | $57,152 + $73,856 $131,008 | $1,868 |
$2,200,000
CRMLS
Sold 2018-08-07
$1,415,000
Public Record
Sold 1976-06-16
$74,500
Public Record
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.