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6555-6561 Franklin Ave - Approved For 28 Units in Prime Hollywood 0.22 Acres of Residential Land Offered at $3,200,000 in Los Angeles, CA 90028
INVESTMENT HIGHLIGHTS
- Approved Plans for 28 units - Prime Hollywood location
- Unit Mix: Designed for a diverse tenant base
- (3) Designated Low-Income Units
- Potential for additional ADUs - contact broker for more information
- (16) 2Bed/2Bath - (4) 1Bed/1Bath - (6) Studio + Lofts - (2) Studios
- Elegant lobby with contemporary design- Resident recreation room - Leasing office
EXECUTIVE SUMMARY
Prime Hollywood Development Opportunity - Approved for 28 Units.
A rare fully entitled multifamily development opportunity at 6555-6561 Franklin Avenue, one of Hollywood’s most desirable residential locations. This project has approved plans for a 28-unit five-story over podium building, street level parking, and one level of subterranean with 30 parking spaces.
This project would consist of a 26,349 SF building sitting on two combined parcels totaling 9,670 SF, offering 23,286 SF of rentable space. The project features a diverse unit mix, including 16 two-bedroom, two-bath units, 4 one-bedroom, one-bath units, 8 studio lofts, and 2 studios, with 3 units designated for low-income housing. Residents will enjoy 30 parking spaces on two subterranean levels and premium amenities, including an elegant lobby, resident recreation room, and leasing office on the first floor.
Prime Location & Investment Potential.
Strategically located at Franklin & Whitley, this development offers unmatched access to Hollywood’s entertainment, dining, and employment hubs. The area benefits from strong rental demand and a walkable urban lifestyle, making it a highly attractive investment opportunity.
A rare fully entitled multifamily development opportunity at 6555-6561 Franklin Avenue, one of Hollywood’s most desirable residential locations. This project has approved plans for a 28-unit five-story over podium building, street level parking, and one level of subterranean with 30 parking spaces.
This project would consist of a 26,349 SF building sitting on two combined parcels totaling 9,670 SF, offering 23,286 SF of rentable space. The project features a diverse unit mix, including 16 two-bedroom, two-bath units, 4 one-bedroom, one-bath units, 8 studio lofts, and 2 studios, with 3 units designated for low-income housing. Residents will enjoy 30 parking spaces on two subterranean levels and premium amenities, including an elegant lobby, resident recreation room, and leasing office on the first floor.
Prime Location & Investment Potential.
Strategically located at Franklin & Whitley, this development offers unmatched access to Hollywood’s entertainment, dining, and employment hubs. The area benefits from strong rental demand and a walkable urban lifestyle, making it a highly attractive investment opportunity.
PROPERTY FACTS
| Price | $3,200,000 | Property Subtype | Residential |
| Sale Type | Investment | Proposed Use | Apartment Units |
| No. Lots | 1 | Total Lot Size | 0.22 AC |
| Property Type | Land | No. Stories | 2 |
| Zoning | LAR4 | ||
| Price | $3,200,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Apartment Units |
| Total Lot Size | 0.22 AC |
| No. Stories | 2 |
| Zoning | LAR4 |
1 LOT AVAILABLE
Lot 2
| Price | $3,200,000 | Lot Size | 0.22 AC |
| Price Per AC | $14,414,868.94 |
| Price | $3,200,000 |
| Price Per AC | $14,414,868.94 |
| Lot Size | 0.22 AC |
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6555-6561 Franklin Ave - Approved For 28 Units in Prime Hollywood
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