$2550000 Price Analysis   ♡   Los Angeles, CA 90027 Unknown bed 0 bath unknown SqFt ($0/SqFt) 0.26 acre lot. Listed 2024-05-08, Taxes $5815 | Ⓧ USDA Ineligible due to property near Los Angeles |
We are pleased to present a large 11
389 square foot (SF) lot located at 1801 North Normandie Avenue in Los Feliz, California. The property is situated in between Hollywood Boulevard to the south and Franklin Avenue to the north. This offering is positioned on one (1) parcel totaling 11, 389 squre feet (SF) of land with a zoning ordinance of LAR3. This allows for fourteen units (14) units by-right. Additionally, this offering is granted ED1 eligibility, a recently passed program that allows an expedited process to 100% affordable developments. If used in conjunction with the State Density Bonus code 65915-65918, an ED1 project would have no maximum density, an allowance of three (3) additional stories and thirty-three (33) additional feet in height and no parking requirement due to AB 2097.
Five (5) additional concessions or incentives are granted under the State Density Bonus program. There is potential to stack these incentives with other programs such as TOC or the Los Angeles Density Bonus program, Buyer to verify. 1801 North Normandie curr ently has 5 units which offers a developer some income as they go through entitlements. The subject property is located in one of the best neighborhoods Los Angeles has to offer with quick access to the Hollywood Walk of Fame, Los Feliz Village and Barnsdall Art Park. Tenants will enjoy having easy access to the -101 freeway and Hollywood Boulevard. Positioned in a prime Los Feliz location, this offering presents an excellent opportunity for an astute developer to capitalize on maximizing density and income with ED1 in a core market of Los Angeles.
Presented by Jason Tuvia at
Marcus & Millichap.
Property MLS #24-389425 from TheMLSCLAW
Lot Size Acres: 0.2615473
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 11393
Calculated Total Monthly Association Fees: 0
County: Los Angeles
Current Use: 5-Unit Multifamily
Directions: The property is situated in between Hollywood Boulevard to the south and Franklin Avenue to the north.
Source Property Type: Land
Possible Use: Ideal Ed Play to Build Upward of 100+ Units Using State Density Bonus
Area: Los Feliz
Source Neighborhood: Los Feliz
Parcel Number: 5544-012-010
Postal Code Plus 4: 3906
Property Location: City
Zoning: LAR3
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $104266 + $289659 $393925 | $5815 |
| 2021 | $102222 + $283980 $386202 | $5722 |
| 2020 | $101174 + $281069 $382243 | $5762 |
| 2019 | $99191 + $275558 $374749 | $5577 |
| 2018 | $97247 + $270155 $367402 | $5393 |
| 2017 | $95341 + $264858 $360199 | $5247 |
| 2016 | $93472 + $259665 $353137 | $5079 |
| 2015 | $92068 + $255765 $347833 | $5016 |
| 2014 | $90265 + $250755 $341020 | $5064 |
| 2013 | $89858 + $249622 $339480 | $5054 |
| 2012 | $88097 + $244728 $332825 | $5114 |
| 2010 | $86370 + $239930 $326300 | $4954 |
| 2009 | $85929 + $238703 $324632 | $4792 |
| 2009 | $85725 + $238137 $323862 | $4792 |
| 2008 | $84245 + $234023 $318268 | $4620 |
| 2007 | $82594 + $229435 $312029 | $4462 |
$2550000
TheMLSCLAW
Sold 2000-03-31
$272000
Public Record
Sold 1989-08-09
$300000
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.