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- LoopNet Team
745 N Croft Ave
Los Angeles, CA 90069
Premier Dev. Site Steps to Melrose Pl. · Land For Sale
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0.14 AC
Investment Highlights
- Ideally located in the heart of LA’s Westside just steps away from famed Melrose Place
- Favorably zoned (Q)R3-1, the site offers an astute developer with a multitude of redevelopment options
- As a highly desirable market, multifamily performance has remained robust. Average rents in this area are some of the highest in the state.
- Existing improvements consist of a VACANT duplex
- Current rent/SF of rentals in the immediate area exceed $6.00
- Incredible location close to the Beverly Center, the Grove, the Sunset Strip, and the Hollywood Hills
Property Facts
Description
Jonathan Taksa of Taksa Investment Group, part of RE/MAX Commercial & Investment Realty, is pleased to present a prestigious development opportunity located in a premier area of the Westside. 745 N Croft Avenue is a VACANT duplex which boasts close proximity to Melrose Place, known for its high-end retail and incredible dining establishments. Favorably zoned (Q)R3-1, the site allows for a range of uses utilizing California’s recently adopted new housing laws intended to ease multifamily development including reduced parking requirements and allowance of accessory dwelling units (ADUs) on certain sites. Eligible for Tier 2 TOIA (Transit Oriented Incentive Area) with the potential to construct up to 18 units utilizing the CHIP (Citywide Housing Incentive Program), this exceptional and rare opportunity offers a buyer a range of attractive redevelopment options in the thriving West Hollywood adjacent market.
Property Taxes
| Parcel Number | 5528-001-024 | Improvements Assessment | $0 |
| Land Assessment | $3,499,666 | Total Assessment | $3,499,666 |
Property Taxes
