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6833 Simpson Ave - Redev - OppZone - 7,905SF - 60x131 - $136PPSF 0.18 Acres of Residential Land Offered at $1,050,000 in North Hollywood, CA 91605
Investment Highlights
- Two development paths: for-sale townhomes or affordable density bonus
- RD1.5-1 zoning, TOC Tier 2, High Quality Transit Corridor
- Minutes to NoHo Arts District, NoHo West, and Hollywood Burbank Airport
- SB 684 subdivision potential for up to 10 lots
- Located in a Qualified Opportunity Zone (QOZ)
Executive Summary
The existing 1,312 SF duplex has been Ellis'd and is delivered vacant, with tenants already cleared. This removes the tenant relocation and Ellis Act hurdles that often complicate small-lot redevelopment in Los Angeles, allowing a buyer to move directly into planning and design.
The site supports two distinct development paths. First, a buyer may explore a subdivision into individually owned lots for for-sale townhomes or similar product, and may evaluate SB 684 as a potential path to create up to 10 small lots. Second, the property's RD1.5-1 zoning, Transit Oriented Community (TOC) Tier 2 designation, and High Quality Transit Corridor proximity may support an affordable housing density bonus strategy. The parcel is also located within a federal Qualified Opportunity Zone (QOZ), which may offer capital gains tax advantages to qualifying investors.
Positioned in an established residential infill setting, 6833 Simpson Avenue is minutes from the NoHo Arts District, NoHo West, and Hollywood Burbank Airport, with convenient access to the 170 Freeway and nearby Metro B (Red) and G (Orange) Line service. The surrounding submarket is renter heavy, with approximately 77% renters within a one mile radius, supporting both for-sale and rental exit strategies.
Buyer to independently verify all zoning, density, entitlement, subdivision, SB 684, and development matters.
Property Facts
1 Lot Available
Lot
| Price | $1,050,000 | Lot Size | 0.18 AC |
| Price Per AC | $5,769,230.77 |
| Price | $1,050,000 |
| Price Per AC | $5,769,230.77 |
| Lot Size | 0.18 AC |
Rectangular 7,905 SF (0.18 AC) interior lot with approx. 60 ft of frontage on Simpson Ave and 131 ft depth. Level, at-grade site currently improved with a vacant duplex, delivered cleared and ready for redevelopment.
Description
Flexible residential redevelopment opportunity in North Hollywood. Level, rectangular 7,905 SF (0.18 AC) infill lot with approximately 60 feet of frontage on Simpson Avenue. The existing duplex has been Ellis'd and is delivered vacant with tenants cleared, removing relocation and Ellis Act hurdles. RD1.5-1 zoning, TOC Tier 2, and High Quality Transit Corridor proximity support two paths: a for-sale townhome subdivision (buyer may evaluate SB 684) or an affordable housing density bonus. Located in a Qualified Opportunity Zone, minutes from the NoHo Arts District and Hollywood Burbank Airport. Buyer to verify all development matters.
Property Taxes
| Parcel Number | 2321-019-005 | Improvements Assessment | $255,000 |
| Land Assessment | $765,000 | Total Assessment | $1,020,000 |
Property Taxes
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6833 Simpson Ave - Redev - OppZone - 7,905SF - 60x131 - $136PPSF
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