Skip To Content

1524 N Alexandria Avenue

Los Angeles (City), CA 90027
  • $1,995,000
  • STATUS: Active
  • ON SITE: 13 Days
  • ID#: 22166611
$1,995,000
  • 2
    BEDS
  • 0.16
    ACRES
  • 1
    BATHS
  • 0
    1/2 BATHS
  • 1,131
    SQFT
  • $1,764
    $/SQFT
Neighborhood:
Type:
Single-Family Home
Built:
1920
County:

School Ratings & Info

Listing Agent(s): Tadeh Minassian of Marcus & Millichap (818-212-2700) and Sevak Keshishian of Marcus & Millichap(818-212-2700)


Description

We are pleased to present a development opportunity in the East Hollywood submarket located at 1524 N Alexandria Ave, which is located within walking distance to Barnsdall Art Park, Kaiser Permanente Los Angeles Medical Center, Children's Hospital Los Angeles, and Hollywood Presbyterian Medical Center. The property is located in an opportunity zone just north of Sunset Blvd and sits on a 6,832 square foot lot zoned RD1.5-1XL. An investor will be able to build four units and may be able to utilize SB 13, AB 68 and AB 881 to add one or two additional Accessory Dwelling Units to the future development. Although the zoning does include a Tier 3 TOC, an investor will not be able to utilize the bonus because the zoning will not allow for at least 5 units by-right. The property currently does not have entitlements or approved plans for development. There is currently an occupied 1,131 SF single family home being rented for $2,900/month that can provide rental income during the entitlement period, due to the high demand for rentals in the East Hollywood submarket and can help off-set some of the carrying costs that a development project will typically include. The home can also be delivered vacant, if the Buyer chooses so, but most importantly, there will not be any rent control restrictions on the redevelopment project since the home is not subject to LA Rent Stabilization Ordinance. It is also typical for 4-unit development projects have a more expedited permitting process and can potentially break ground in shorter time periods, since they are classified as residential projects.

Monthly Payment Calculator



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-06-28T00:26:37.8. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Bill Ruane RE/MAX Estate Properties. Licensed in the State of California, USA.
www.billruane.com/homes/129833317
Print Image

1524 N Alexandria Avenue Los Angeles (City), CA 90027

  • Price: $1,995,000
  • Status: Active
  • On Site: 13 Days
  • ID#: 22166611
2
Beds
1
Baths
0
½ Baths
0.16
Acres
1,131
SQFT
$1,764
$/SQFT
1920
Built
Neighborhood:
C20 - Hollywood
County:
Los Angeles
Area:
C20 - Hollywood
Property Description
We are pleased to present a development opportunity in the East Hollywood submarket located at 1524 N Alexandria Ave, which is located within walking distance to Barnsdall Art Park, Kaiser Permanente Los Angeles Medical Center, Children's Hospital Los Angeles, and Hollywood Presbyterian Medical Center. The property is located in an opportunity zone just north of Sunset Blvd and sits on a 6,832 square foot lot zoned RD1.5-1XL. An investor will be able to build four units and may be able to utilize SB 13, AB 68 and AB 881 to add one or two additional Accessory Dwelling Units to the future development. Although the zoning does include a Tier 3 TOC, an investor will not be able to utilize the bonus because the zoning will not allow for at least 5 units by-right. The property currently does not have entitlements or approved plans for development. There is currently an occupied 1,131 SF single family home being rented for $2,900/month that can provide rental income during the entitlement period, due to the high demand for rentals in the East Hollywood submarket and can help off-set some of the carrying costs that a development project will typically include. The home can also be delivered vacant, if the Buyer chooses so, but most importantly, there will not be any rent control restrictions on the redevelopment project since the home is not subject to LA Rent Stabilization Ordinance. It is also typical for 4-unit development projects have a more expedited permitting process and can potentially break ground in shorter time periods, since they are classified as residential projects.
Exterior Features

Parking Features Driveway Parking Total 1 Pool Features None Pool Private YN No Spa Features None Spa YN No View None View YN No

Interior Features

Fireplace Features None Fireplace YN No Flooring Laminate Heating Wall Furnace Heating YN Yes

Property Features

Association YN No Listing Agreement Seller Reserved Listing Service Full Service New Construction YN No Property Sub Type Single Family Residence Senior Community YN No Special Listing Conditions Standard Zoning Lard1.5



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-06-28T00:26:37.8. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Bill Ruane RE/MAX Estate Properties. Licensed in the State of California, USA.
 
Logo
Bill Ruane RE/MAX Estate Properties
402 Main Street
El Segundo CA, 90245
Listing Agent(s): Tadeh Minassian of Marcus & Millichap (818-212-2700) and Sevak Keshishian of Marcus & Millichap(818-212-2700)