1150 N Kingsley Drive,Los Angeles,Los Angeles,Land

Property Description

We are pleased to present an excellent development opportunity near Santa Monica Blvd and Normandie Ave in East Hollywood! The existing structure on the lot consists of a fixer 6 unit building of which 4 UNITS WILL BE DELIVERED VACANT! Boasting a lot size of +/- 7,895 sq. ft., zoning of LARD1.5, and Tier 3 TOC designation, the potential possibilities for this property are endless! Buyer may be able to do affordable housing (ED-1) project on this lot! Buyer to investigate. The buyer can also reap tax benefits as the property is in an Opportunity Zone! There are 4 detached garages in the back lot, which can also be converted to one or more ADUs to generate additional rental income. Given the building’s central location in the bustling rental Hollywood rental market and close to Virgil Village, Melrose Hill, and the numerous establishments across Santa Monica Blvd., this is a value-add investment not to be missed!