1110 N Gower St
Los Angeles, CA 90038
Land For Sale
·
0.30 AC
Investment Highlights
- Vacant two-story commercial building approximately 2,133 SF (per County Assessor). Additional 2,000 SF storage building at the rear.
- Ample land area to develop a new multi-family apartment building on the entire site.
- The property is located in an Opportunity Zone providing tax incentives and deferred capital gains.
- Owner-user opportunity.
- Demand for housing in Hollywood is very high, and apartment rents are strong within the sub-market.
Property Facts
| Property Type | Land | Proposed Use | |
| Property Subtype | Commercial | Total Lot Size | 0.30 AC |
| Zoning | CM - CM Zoning. The property is located in an Opportunity Zone. | ||
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 0.30 AC |
| Zoning | CM - CM Zoning. The property is located in an Opportunity Zone. |
Description
1110 N Gower Street is comprised of an approximately 4,133 SF two story commercial building on approximately 6,500 SF of land zoned CM-1VL. The property has two unoccupied structures that total approximately 4,133 SF which will be delivered vacant at the close of escrow: a two-story commercial building approximately 2,133 SF (per County Assessor), and an additional 2,000 SF storage building at the rear which may be unpermitted. Zoning and Development Potential: - Base FAR of 1.5: This allows for a maximum building size of approximately 9,799.5 square feet. - Base Unit Density of R3: This permits a maximum of 8 units on the property. - Affordable Housing Bonus: By providing 30% of units as affordable housing, the developer can increase the total number of units to approximately 17 (13 market rate, 4 affordable). -Hollywood Community Plan Update: Potential for further bonuses, increasing the total allowable units and building size.
Property Taxes
| Parcel Number | 5534-016-014 | Improvements Assessment | $15,300 |
| Land Assessment | $1,106,700 | Total Assessment | $1,122,000 |
Property Taxes
