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5212 Melrose Ave 0.29 Acres of Commercial Land in Los Angeles, CA 90038
INVESTMENT HIGHLIGHTS
- PRIME HOLLYWOOD LOCATION ONE BLOCK FROM PARAMOUNT STUDIOS
- Walker's Paradise Score of 90 & Good Transit Score of 55
EXECUTIVE SUMMARY
Rare Hollywood development opportunity near Paramount Studios, Raleigh
Studios and Larchmont Village
- Vacant land
- Ideal for Small Lot subdivision Ordinance (“SLO”) townhome development
- Townhomes are considered to be one of the most active and sought-after types of residential development in the greater LA area
- Adjacent to Osteria La Buca, a highly acclaimed Italian restaurant/bar
- Billboard income
- Located in Tier 2 TOC (per ZIMAS)
- AB 2334 site (per ZIMAS) - allows unlimited density and additional height for eligible affordable housing projects
- Located in an area experiencing tremendous growth due to its desirable proximity to the studios and well-paying jobs as well as Melrose and Larchmont Village amenities
- Paramount Studios’ master plan for a major internal expansion to add 1.4M SF has been approved
*Proforma for development of 9 SLO townhomes available upon request.
Studios and Larchmont Village
- Vacant land
- Ideal for Small Lot subdivision Ordinance (“SLO”) townhome development
- Townhomes are considered to be one of the most active and sought-after types of residential development in the greater LA area
- Adjacent to Osteria La Buca, a highly acclaimed Italian restaurant/bar
- Billboard income
- Located in Tier 2 TOC (per ZIMAS)
- AB 2334 site (per ZIMAS) - allows unlimited density and additional height for eligible affordable housing projects
- Located in an area experiencing tremendous growth due to its desirable proximity to the studios and well-paying jobs as well as Melrose and Larchmont Village amenities
- Paramount Studios’ master plan for a major internal expansion to add 1.4M SF has been approved
*Proforma for development of 9 SLO townhomes available upon request.
PROPERTY FACTS
| Sale Type | Investment | Property Subtype | Commercial |
| Sale Condition | Redevelopment Project | Proposed Use | Multifamily |
| No. Lots | 1 | Total Lot Size | 0.29 AC |
| Property Type | Land | ||
| Zoning | C2-1 - Commercial | ||
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Multifamily |
| Total Lot Size | 0.29 AC |
| Zoning | C2-1 - Commercial |
1 LOT AVAILABLE
Lot
| Lot Size | 0.29 AC |
| Lot Size | 0.29 AC |
+/- 12,421 sf of land
1 1
Walk Score®
Walker's Paradise (92)
PROPERTY TAXES
| Parcel Number | 5522-003-003 | Improvements Assessment | $487,443 |
| Land Assessment | $2,553,286 | Total Assessment | $3,040,729 |
PROPERTY TAXES
Parcel Number
5522-003-003
Land Assessment
$2,553,286
Improvements Assessment
$487,443
Total Assessment
$3,040,729
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5212 Melrose Ave
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