6575 Fountain Avenue, Los Angeles CA, 90028
(Active)
$1,895,000
|
12 beds, 12 Full baths, 16,080 sqft
|
MLS# 23310631
Last Updated: 5/8/2024 5:50 PM
Description for
6575 Fountain Avenue
Los Angeles, CA 90028
**FULLY APPROVED PLANS w/ RTI PERMITS** We're pleased to present this one-of-a-kind, fully entitled Ready-To-Issue (RTI) development opportunity in the desirable and growing Hollywood neighborhood. Boasting a high Walk Score, the proposed project is situated a short distance from Sunset Blvd and is surrounded by a plethora of amenities. Utilizing TOC incentives, the development consists of 12 units with a contemporary design, featuring a 4-story mid-rise wood-frame structure, 14 onsite subterranean parking spaces & a unit mix of luxury one & two bedroom units. Entitlements are complete, allowing a buyer to begin construction immediately. Located in an exclusive HUD approved 'Opportunity Zone', this LAR3 - 1XL property sits on a spacious 7,000SF pad with approved plans to build up to approximately 22,870SF (16,080SF Residential Living Space plus 6,790SF Subterranean Garage). Priced to provide compelling exit metrics for a developer/buyer. See Offering Memo for a detailed analysis of residual land value. **SELLER FINANCING may be available for qualified buyers**
Price
$1,895,000
Los Angeles
12
12 Full
16,080 (approx)
23310631
Active
Description
**FULLY APPROVED PLANS w/ RTI PERMITS** We're pleased to present this one-of-a-kind, fully entitled Ready-To-Issue (RTI) development opportunity in the desirable and growing Hollywood neighborhood. Boasting a high Walk Score, the proposed project is situated a short distance from Sunset Blvd and is surrounded by a plethora of amenities. Utilizing TOC incentives, the development consists of 12 units with a contemporary design, featuring a 4-story mid-rise wood-frame structure, 14 onsite subterranean parking spaces & a unit mix of luxury one & two bedroom units. Entitlements are complete, allowing a buyer to begin construction immediately. Located in an exclusive HUD approved 'Opportunity Zone', this LAR3 - 1XL property sits on a spacious 7,000SF pad with approved plans to build up to approximately 22,870SF (16,080SF Residential Living Space plus 6,790SF Subterranean Garage). Priced to provide compelling exit metrics for a developer/buyer. See Offering Memo for a detailed analysis of residual land value. **SELLER FINANCING may be available for qualified buyers**
Listing Information
| Property Type: Single Family, 1 Story | ||
| 12 | 12 Full | |
| 0.16 Acres | Assessor | 16,080 (approx) |
| 1920 | 1 | |
Neighborhood
Room Information
| Bathrooms | |||
| 12 | |||
Total: 12
None
Interior Features
Wood
None
Other,
None
No Common Walls
None
Exterior / Lot Features
0 Covered Parking Spaces,
None
None
None
City
LAR3
Driving Directions
Corner of Fountain Ave & Seward Street - 3 Blocks West of Cahuenga Blvd
Financial Considerations
| 5547028026 |
Listing Price History
Los Angeles Real Estate
Los Angeles is located in California. Los Angeles, California 90028 has a population of 3,956,168.
The median household income in Los Angeles, California 90028 is $55,915. The median household income for the surrounding county is $73,262 compared to the national median of $66,222. The median age of people living in Los Angeles 90028 is 38 years.
Data provided below are primarily sourced from Public Records data.
Nearby Recent Sales (Sourced from Public Records)
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Price History
| Date | Event | Price | Source |
|---|---|---|---|
| 9/12/2023 | Active | $1,895,000 USD |
|