We are proud to exclusively present for sale a redevelopment opportunity in prime Los Feliz, under a mile from the Metro Station at Hollywood and Western and just steps to the wonderful Barnsdall Art Park with everything that it has to offer. The existing Single Family Residence is most likely a tear down, but a Buyer may elect to rehab the existing structure and build 2+/- additional units in the back through the existing RD1.5 zoning or as ADUs. No RSO or Ellis Act to worry about. Being in a high transit area, a new owner may build 7+/- units utilizing the Tier 3 designation or through a Density Bonus. Focusing on a 100% Affordable Housing Project can yield even higher density utilizing AB2345. Situated in the heart of Los Feliz, the neighborhood boasts Vermont Ave., Hillhurst Ave. and Hollywood Blvd. as three distinct shopping, nightlife and dining destinations! Surrounded by Hollywood and Silver Lake, with excellent transit and a Walker's Paradise designation, this is among the most in-demand neighborhoods by younger professionals. Walk to JONS International Marketplace, Jitlada, the Los Feliz Theater, the Vista Theater (currently being transformed into a new movie-going destination by Quentin Tarantino), the Dresden, House of Pies, Kaiser Permanente, Rite Aid, Harvard and Stone...and so much more! Hop on the Metro, free from traffic, and be almost anywhere in Los Angeles in practically no time at all.
