1807 N Van Ness Ave - Apartments FOR SALE


Los Angeles, CA 90028- Hollywood
$1,850,000 USD
310-968-7005
1807 N Van Ness Ave, Los Angeles, CA for Sale
$1,850,000 USD
Apartments - FOR SALE
1/11
null | 1% Cap Rate

1807 N Van Ness Ave
Los Angeles, CA 90028
Hollywood


HIGHLIGHTS

  • 1807 N. Van Ness Ave presents a development-ready opportunity in one of Hollywood’s most desirable pockets north of Hollywood Blvd.
  • SB-79 eligible lot - 8,392 SF flat lot zoned RD1.5-1XL, and located 0.5 miles north of the Hollywood/Vermont Red Line Metro Station.
  • Paths for redevelopment including 11-units by-right, up to 26-units for a mixed-income project, and no max density for an affordable housing project.
  • The existing improvements include a 2,388 SF 2-story, 5-bdrm. & 3-bath, Craftsman residence retaining much of its original exterior charm.
  • Major employers such as Netflix, Paramount, Viacom, Sunset Bronson Studios, Emerson College, and Children’s Hospital Los Angeles drive tenant demand.
  • A short drive connects to Hillhurst Ave in Los Feliz and Sunset Junction in Silver Lake.

OVERVIEW

***Build 11 units by-right with SB-79, 26 units mixed-income project with MIIP and SB-79, and an affordable housing project with no max density*** SB-79, 1807 N. Van Ness Ave presents a development-ready opportunity in one of Hollywood's most desirable pockets north of Hollywood Blvd. Set on an 8,392 SF flat lot zoned RD1.5-1XL, and located 0.5 miles north of the Hollywood/Vermont Red Line Metro station, this lot is eligible for SB-79 incentives. There are multiple paths for redevelopment, including 11 units by right, up to 26 units for a mixed-income project, and no maximum density for an affordable housing project. The site will be delivered vacant at the close of escrow, and a BrickWork development report is available in pages. 9-11 of the marketing package. The neighborhood continues to attract transformative investment, with nearby projects like the 6007 Sunset campus and the $1 billion Star tower, designed by Foster + Partners. Hollywood and Sunset Blvds are lined with new mixed-use and multifamily developments that are reshaping the corridor. Several blocks from the heart of Franklin Village, 1807 N. Van Ness is near a stretch of quaint cafes, small boutiques, and heavily visited grocers. In addition, major employers such as Netflix, Paramount, Viacom, Sunset Bronson Studios, Emerson College, and Children's Hospital LA drive tenant demand, ensuring stability for future projects. A short drive connects to Hillhurst Ave in Los Feliz and Sunset Junction in Silver Lake. In a market defined by large-scale reinvestment and employment-driven demand, 1807 N. Van Ness is a rare vacant parcel positioned to capture near-term and long-term growth in a dynamic Hollywood corridor.

FOR SALE DETAILS

PRICE

$1,850,000 USD

PRICE/SF

$206 USD /SF

# OF UNITS

11

PRICE/UNIT

$168,182

CAP RATE

1%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Vacant Hollywood 5+3 SFR - SB-79 Eligible

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1911

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,276 SF

ZONING

LARD1.5

APN/PARCEL ID

5586-029-017

ASK ABOUT THIS PROPERTY

Kenny StevensCompassMore Info
310-968-7005

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Kenny StevensCompassMore Info
310-968-7005

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.