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- LoopNet Team
1316 N Vista St
Los Angeles, CA 90046
RTI 5 Home Small Lot Project · Land For Sale
·
0.16 AC
INVESTMENT HIGHLIGHTS
- Full RTI Status
- Entitled for 5 Small Lot Subdivision Homes
- Exceptional location, bordering West Hollywood
- Break Ground immediately after Close of Escrow
- Designed by Jay Vanos Architects, a pioneer in Small Lot Homes
- Sales Comps for similar product are in the $1,000 / SF range ($2,200,000 each home)
PROPERTY FACTS
| Property Type | Land | Proposed Use | Single Family Development |
| Property Subtype | Residential | Total Lot Size | 0.16 AC |
| Zoning | LAR3 | ||
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Single Family Development |
| Total Lot Size | 0.16 AC |
| Zoning | LAR3 |
DESCRIPTION
Perhaps the last of its kind; a true RTI opportunity to build 5 Small Lot Subdivision Ordinance ("SLO") Homes, designed by Jay Vanos Architects, a pioneer in the Small Lot Subdivision design space. Restrictive redevelopment guidelines by the City of LA limit this product type, making this a VERY rare offering. Sale includes plans and permits for 5 free-standing, tri-level contemporary homes, each with their own address, APN, private 2-car garage, direct entrance, soaring ceilings, and private roof-top deck. The first 4 homes feature 3 Beds, 3 Baths, measuring approximately 1,900 SF (not including garage or roof-top deck). The 5th, rear home is the largest, featuring 4 Beds, 4 1/2 Baths, measuring approximately 2,400 SF (not including garage or roof-top deck). Recent comps in the area are selling for approx. $1,000 / SF ($2.2M each home), making this a very attractive opportunity for the astute investor, developer and 1031 Buyer. Lease comps in the $6,000+ / month / home range. Situated between West Hollywood and the renaissance of Hollywood proper, with endless lifestyle destinations and amenities in close proximity, including Plummer Park, Runyon Canyon, Whole Foods, Target, Horses, L'Antica Pizzeria, Equinox, Netflix, Dream Hotel and the Hollywood Media District. A perfect solution for the LA housing shortage. Priced to sell and won't last long. RTI plans will be made available to pre-qualified Buyers. Existing structure to be demolished by COE. Delivered shovel ready and RTI. Buyer to pay permit fees. Drive-by ONLY.
