549 N Heliotrope Dr
Los Angeles, CA 90004
RTI - 17 Unit Res. Development On-Grade · Land For Sale
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0.18 AC
Investment Highlights
- Delivered RTI - Currently a vacant duplex on site
- Many homes with private outdoor space
- Within Half a Mile of Metro Subway Station, LA City College, restaurants, bars, entertainment
- 17 Units with on-grade garage podium
- Top floor with two 3 Bedroom Units (one with huge balcony/deck)
- Opportunity Zone!
Property Facts
| Property Type | Land | Proposed Use | Apartment Units |
| Property Subtype | Residential | Total Lot Size | 0.18 AC |
| Zoning | R3-1 Tier 3 - Delivered RTI | ||
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Apartment Units |
| Total Lot Size | 0.18 AC |
| Zoning | R3-1 Tier 3 - Delivered RTI |
Description
Presented for sale is a beautifully designed 17 Unit Residential Project located on Heliotrope Drive in the Los Angeles City College area. The project offers developers the opportunity to build four-stories on top of an on-grade podium which would house 9 parking spaces. The project site, which currently houses a vacant duplex, is situated just a half-mile away from the Vermont / Beverly Metro Subway Station, and is bordered by East Hollywood to the north, Silver Lake to the northeast, and Koreatown to the south. The building will be comprised of 9 studios, 6 two-bed & two-bath, and 2 three-bed & two-bath homes. This project will be delivered Ready-to-Issue with the possibility of having 4 Affordable Units with no Rent Control or 3 Affordable Units with Rent Control. Potential to stabilize near 6% cap rate with market rents. Opportunity Zone!
Property Taxes
| Parcel Number | 5520-008-011 | Improvements Assessment | $4,603,770 |
| Land Assessment | $1,342,214 | Total Assessment | $5,945,984 |
Property Taxes
