5720-5728 Waring Ave - Residential LAND FOR SALE


Los Angeles, CA 90038- Hollywood13,007 SF
$2,995,000 USD
310-202-9166
5720-5728 Waring Ave, Los Angeles, CA for Sale
$2,995,000 USD
Residential LAND - FOR SALE
1/4
13,007 SF

5720-5728 Waring Ave
Los Angeles, CA 90038
Hollywood


HIGHLIGHTS

  • 13,007 SF Vacant Lot - Adjacent to Larchmont Village
  • Fully entitled (RTI) multi-family development project for 35 dwelling units
  • Plans include on grade parking & approved plans to turn the recreation room into an ADU. Creating 36 total units.
  • Plans are for a five story building of approximately 43,620 SF. With an excellent unit mix of 2 BR, 1 BR and studio units
  • Seven of the units are designated as affordable location
  • High demand rental location, North of Melrose & West of Gower. 90 Walk Score! Very close to all the shops & restaurants at Larchmont Village

OVERVIEW

This fully entitled, Ready-to-Issue (RTI) multifamily development opportunity offers approved plans for a five-story, approximately 43,620-square-foot building containing 35 dwelling units. The plans also provide for the recreation room to be converted into a one-bedroom, one-bathroom ADU, increasing the project to a total of 36 units. A major advantage of the project is its efficient parking design, which includes 17 on-grade parking spaces and eliminates the need for costly subterranean construction. The thoughtfully designed unit mix consists of twelve two-bedroom/two-bathroom units, seven one-bedroom/one-bathroom units, and sixteen studio units. Seven of the units—representing 20% of the project—are designated for low-income households. The affordable units include three studios, two one-bedroom/one-bathroom units, and two two-bedroom/two-bathroom units. This 20% affordable housing allocation eliminates applicable linkage fees and allows the remaining market-rate units to be exempt from rent control, providing a meaningful long-term benefit to the future owner.

FOR SALE DETAILS

PRICE

$2,995,000 USD

PRICE/ACRE

$10,030,141/AC

PRICE/SF

$230 USD /SF

# OF LOTS

-

LAND DETAILS

PROPERTY NAME

5720-5728 Waring Ave., LA 90038

PROPERTY TYPE

Land

PROPERTY SUBTYPE

Residential

LAND PROPOSED USE

Multi-Family

LAND ACRES

0.3 AC

LAND SF

13,007 SF

OFFSITE IMPROVEMENTS

Sewer, Water, Electricity, Gas, Streets, Curb/Gutter/Sidewalk, Cable, Telephone, Irrigation

ZONING

LAR3

APN/PARCEL ID

5534-033-006,5534-033-007

ASK ABOUT THIS PROPERTY

Jon BloomMiller & Desatnik Realty Corp.More Info
310-202-9166

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

Jon BloomMiller & Desatnik Realty Corp.More Info
310-202-9166

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