970 N Hoover St 0.13 Acres of Residential Land Offered at $995,000 in Los Angeles, CA 90029

Prime Silver Lake Development Opportunity – 14 Units RTI -multi-family development. Presenting a rare and ready-to-go development site in the heart of Silver Lake, one of Los Angeles' most vibrant and sought-after neighborhoods. This exceptional offering includes Ready-to-Issue (RTI) permits for a 14-unit multifamily project—perfect for developers looking to capitalize on immediate construction potential-and shorten ROI timeframe for investors. Nestled just steps from Silver Lake’s iconic coffee shops, acclaimed restaurants, and unique local retail, this site combines walkability with lifestyle appeal. Located minutes from major studio hubs, freeway access, and public transit, the property offers seamless connectivity to all parts of the city, making it ideal for working professionals and creatives alike. With architectural plans approved, this project is poised for execution—an excellent opportunity to build in a neighborhood known for strong rental demand, cultural cachet, and long-term value. Excellent unit mix-10 studio apartments with one bath, 4-one bedroom apartments with one bath. Two units -low income. Smaller new construction apartment complexes and far and few between - and are favored amongst tenants. The 970 Hoover street 14-unit development is a sure winner amongst the mega-structure developments which are dominating Silver lakes multi-family development scene. Demand for new construction Multi-family apartments grow! A few notable new multi-family developments in Silver lake: 2511 Sunset Boulevard (Six Peak Capital) A proposed five-story mixed-use building with 121 apartments over ~3,600?sq?ft of ground-floor retail, This shows a strong appetite for high-density, transit-oriented projects in the area. In development-(source LA Yimby.com) 3520?W. Marathon Street Complete construction on Southern California’s first mass-timber 9-unit multifamily project, representing Silver Lake’s push toward innovative, sustainable construction methods. Other projects include a 76-unit expansions on Silver Lake Blvd, and 74 apartments at 3004 Sunset Blvd. These new developments reinforce the area's trend toward mid-rise infill development. Call listing agent for more detailed information.