5422-5432 La Mirada Ave
Los Angeles, CA 90029
Land For Sale · 0.53 AC

The La Mirada-Lexington Development Site is a three parcel street-to-street development site in Hollywood. Situated on 26,045 sq ft of land zoned R4 with a q condition resulting in a base density of 1 unit per 600 square feet of land, the property on a by-right density accommodates 43 units. With city of Los Angeles Transit Oriented Communities Affordable Housing Incentive Guidelines (TOC Guidelines) in a Tier 3 area, the property can accommodate upwards of 75 units. The four-existing structures consists of three houses and a 10-unit apartment building. Two of the houses are on one lot which would be considered a duplex so 12 units are currently under rent control. The 10 unit apartment building is fully occupied but the three houses are vacant. It is expected that a developer will entitle the property for 75 units consisting of a four story structure over one level of on-grade parking or possibly one level of on-grade and one level of subterranean, depending on how much parking the developer wishes to provide as TOC requirements only mandate a minimum of 0.5 parking spaces per unit. Although the property is situated in height district 1VL, which is limited to 3 stories and 45 feet, TOC provides an incentive of two additional stories up to 22 additional feet. Please review the TOC Guidelines as well as other city guidelines including the CRA as the property is currently unentitled and interested buyers are to make their own determination into the feasibility of entitling the proposed purely hypothetical project.