643 N Rossmore Avenue, Los Angeles CA, 90004
(Active)
$2,500,000
|
|
MLS# 24361099
Last Updated: 4/28/2024 3:42 PM
Description for
643 N Rossmore Avenue
Los Angeles, CA 90004
643 N Rossmore Ave, a prime vacant lot in the prestigious Hancock Park & Larchmont Village area of Los Angeles. Spanning 6,459 square feet and zonedR4-2 within a Tier 1 Transit Oriented Community (TOC), thisproperty stands out as an ideal site for multifamily development.Developers have the potential to construct 16 units by-right, withthe option to expand to 26 units by leveraging TOC incentives.Preliminary plans are already in place for a 25-unit, six-storyapartment complex totaling 18,641 square feet. The proposedproject includes 23 one-bedroom units ranging from 513 to 590square feet and two three-bedroom units between 840 to 850square feet. Additionally, the plans provides for subterranean andground level parking with a total of 18 spaces.This property is not only situated in a prime location just south ofMelrose Ave, but it also boasts a high walk score of 93. It's a shortdistance from the Wilshire Country Club, Los Angeles Tennis Club,and the Marlborough School, and a varietyof retail amenities along N Larchmont Blvd. Paramount Studios isalso just half a mile away. The neighborhood's strong demographicsare highlighted by an average household income of $91,486 within a5-mile radius and a median home value of over $1 million within twomiles, making it an attractive area for residential development.The central location offers easy commutes throughout Los Angeles,including Hollywood, West Hollywood, Beverly Hills, Los Feliz, andLa Brea. This vacant lot presents a unique opportunity for developersseeking a project with significant density potential, in a sought-afterlocation, without the need for relocation.
Price
$2,500,000
Los Angeles
24361099
Active
Description
643 N Rossmore Ave, a prime vacant lot in the prestigious Hancock Park & Larchmont Village area of Los Angeles. Spanning 6,459 square feet and zonedR4-2 within a Tier 1 Transit Oriented Community (TOC), thisproperty stands out as an ideal site for multifamily development.Developers have the potential to construct 16 units by-right, withthe option to expand to 26 units by leveraging TOC incentives.Preliminary plans are already in place for a 25-unit, six-storyapartment complex totaling 18,641 square feet. The proposedproject includes 23 one-bedroom units ranging from 513 to 590square feet and two three-bedroom units between 840 to 850square feet. Additionally, the plans provides for subterranean andground level parking with a total of 18 spaces.This property is not only situated in a prime location just south ofMelrose Ave, but it also boasts a high walk score of 93. It's a shortdistance from the Wilshire Country Club, Los Angeles Tennis Club,and the Marlborough School, and a varietyof retail amenities along N Larchmont Blvd. Paramount Studios isalso just half a mile away. The neighborhood's strong demographicsare highlighted by an average household income of $91,486 within a5-mile radius and a median home value of over $1 million within twomiles, making it an attractive area for residential development.The central location offers easy commutes throughout Los Angeles,including Hollywood, West Hollywood, Beverly Hills, Los Feliz, andLa Brea. This vacant lot presents a unique opportunity for developersseeking a project with significant density potential, in a sought-afterlocation, without the need for relocation.
Listing Information
| Property Type: Land, Other | ||
| 0.15 Acres | Other | |
Neighborhood
Room Information
Exterior / Lot Features
0 Covered Parking Spaces,
LAR4
Driving Directions
South of Melrose Ave in the Hancock Park & Larchmont Village neighborhood of Los Angeles
Financial Considerations
| 5523007003 |
Listing Price History
Los Angeles Real Estate
Los Angeles is located in California. Los Angeles, California 90004 has a population of 3,956,168.
The median household income in Los Angeles, California 90004 is $58,565. 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 90004 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 |
|---|---|---|---|
| 2/28/2024 | Active | $2,500,000 USD |
|
Tax History (Sourced from Public Records)
| year | Property Taxes | Change | Tax Assessment | Change |
|---|---|---|---|---|
| 2023 | $22,163 USD | 4.89% | $1,822,743 USD | 2.00% |
| 2022 | $21,130 USD | -18.52% | $1,787,003 USD | -17.43% |
| 2021 | $25,933 USD | -1.03% | $2,164,190 USD | - |
| 2020 | $26,203 USD | 4.16% | $2,164,190 USD | 1.04% |
| 2019 | $25,156 USD | 28.31% | $2,142,000 USD | 2.00% |