658 Lillian Way
Los Angeles, CA 90004
658 Lillian Way, Los Angeles, CA 90004 · Land For Sale · 0.16 AC

~~ $200K PRICE REDUCTION! ~~ Marcus and Millichap’s Agnew | Serling Team is pleased to present 658 Lillian Way, a mixed-use single family home and detached office/flex building situated on a 7,160 SF (0.16 Acres) C2-1 Tier 1 TOC zoned parcel in the Greater Wilshire/Hancock Park neighborhood. The flexibility of the underlying commercial zoning permits a future owner the opportunity to repurpose the existing structure, add an additional ADU, or build from the ground up. The property allows for up to a 17-unit multi-family development by-right (1.5:1 FAR) or up to a 27-unit multi family development with the Tier 1 TOC Bonus (2.75:1 FAR) - Buyer to Verify. Alternatively, an owner user would be able to take advantage of the mixed use aspect, by living in the front portion of the property and running a business out of the back office/flex space. The commercial portion of the property, totaling an approximate 528 SF, could be used for a variety of different businesses looking to take advantage of the fantastic location. The asset is located 2 parcels south of the Lillian Way/Melrose Ave Intersection, a cross street that sees over 37,000 VPD. Nestled on the north end of Hancock Park, a longtime hotspot for the world’s hottest celebrities and movie stars, the property enjoys a walk score of 93 with trendy restaurants and retailers within walking distance. The highly sought after location is sandwiched between some of the most wealthy and high-profile areas in Los Angeles County. The Hollywood Media District, which is located on the other side of Melrose Ave and just north of the subject property, supports many of the nearby creative agencies, production studios, and post-production houses. The subject property also sits 0.4 miles east of the famous Paramount Pictures Studios, the 2nd oldest film studio in the United States. The studio has played an intricate part in the history of film and television producing countless award winning movies like The Godfather, Titanic, and Forrest Gump. On the south side of the property sits Larchmont Village and the Wilshire Country Club, one of the most exclusive and iconic country clubs in the United States. This densely populated, affluent area has a population of over 516,000 people with an average annual household income of $100,000 within a 3-mile radius.