1845 Taft Ave
Los Angeles, CA 90028
Land For Sale
·
0.55 AC
Investment Highlights
- 23,811 SF development site in Prime Hollywood - Corner of Franklin and Taft Ave
- Prior to being demolished there were single family homes on each lot
- Prior ED1 approval
- All three lots are VACANT!
- Zoning: RD 1.5-1XL
- North of Hollywood Blvd, West of Wilton, close to Griffith Park and adjacent to Los Feliz
Property Facts
Description
Rare opportunity to acquire three contiguous VACANT parcels on the corner of Taft Ave and Franklin Ave in Hollywood, LA 90028. The total size of all three lots is approximately 23,760 SF and the zoning for all three properties is RD.15-1XL. The dimensions of the lots are 135 SF of frontage on Franklin Ave by 176 SF on Taft Ave. All three of the lots qualify for Tier 3 of the Transit Oriented Communities Plan (TOC). The zoning and site supports a variety different development options with significant density and height bonuses under a variety of state and local programs. Prior to being demolished all three lots had single family residences. A previous ED1 project was approved, demonstrating feasibility for expedited housing development. Multiple development strategies are possible, with some of those being: •. ED1 streamlined affordable housing • CHIP Density Bonus project • Small Lot Subdivision • By-right multifamily project with TOC Tier 3 incentives This vacant development site is in a strong rental and resale market strategic play for developers targeting a high-growth, supply-constrained submarket. The prime location is walking distance to Metro, Franklin Village, Griffith Park, and Hollywood nightlife.
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,005,210 | |
| Land Assessment | $3,410,238 | Total Assessment | $4,415,448 |
Property Taxes
