Active

1022 N Ardmore Avenue

Los Angeles, CA 90029
Mark as Favorite
SqFt8,917

Sqft(Lot)

Welcome to 1022 N ARDMORE AVE, a fully entitled RTI( Ready to Issue) permit project perfect for Developers, Investors, Contractors and Builders, ready to pull permits and to start building. This SHOVEL READY 100% Affordable ED1 project features 57 units including a manager's office that can be converted into a unit, 40-1 bedroom, 17- studios across a Type V, four story, fully stacked designed which features all wood frame floors on an almost 9,000 square foot lot plus an alley. This design has a significant savings in construction costs and time maximizing the most units with much lower construction costs compared to 5 stories and taller projects such as, Type III. Located in one of Los Angeles most vibrant and high demand area, the property located in Hollywood close to Sunset BLVD with a walk score of 87, close to restaurants, coffee shops and shopping centers. Due to its central location, the area is within top employment hubs and is minutes from Larchmont, Silverlake, Hollywood Walk of FAME, Paramount Studios, Melrose Hills and it is a highly desirable and attractive area that has other brand new construction apartments buildings nearby. The property is located in a TOC Tier 3 area, close to the Vermont/Sunset Metro Subway Station, making this very walkable and bike friendly. The stackable design features 25,292 square feet of building area with units ranging from approx 300-456 square feet. Based on the most recent schedule 6 & 9 rents from the covenant, the total monthly rents from the 57 units would bring a estimated monthly gross income of $123,044 and yearly gross income of $1,476,528, or a buyer can look into achieving higher rents with Section 8 vouchers (buyer to verify). Each floor has a laundry room, outdoor bicycle area and storage. The property is currently a vacant land ready to start building right away, shovel ready!! The plans have no parking required, so developers don't have to pencil the high costs that come with on-grade parking, increasing additional significant savings to the project's construction costs and affordability. A developer can break ground right away and there has been a lot of money invested in the area. Each unit is designed for maximum affordability and optimized rental income. This development presents a rare and immediate opportunity for developers to bring much-needed affordable housing to one of LA's most sought-after areas. BUYER TO VERIFY ALL!

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Detail Ic Property Details

Property Type : Land

Price : $2,499,999

AD Id : 79259691

MLS Id : 26839037

Lot Size : 8,917 Sqft(Lot)

County : Los Angeles

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Feature Features

  • Bathroom Information

    Total Baths: 0 Full Baths: 0 Half Baths: 0

  • Lot Details

    Lot Dimensions Source: Vendor Enhanced Lot Size Acres: 0.2047
  • Lot Size Source: Vendor Enhanced Lot Size Square Feet: 8917

  • Listing Price Information

    Original List Price: 2,499,999 Listing Contract Date: 2026-05-26
  • Lease Information

    Listing Agreement: Seller Reserved

  • Tax Information

    Parcel Number: 5537018021

  • Other Property Info

    Source Listing Status: Active Source Neighborhood: C20 - Hollywood Postal Code Plus 4: 2402 Directions: South of Santa Monica and North of Melrose, East of Western Zoning: LAR3 Source Property Type: Land Area: C20 - Hollywood
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Nearby Home Value

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1165 N Berendo Street, Los Angeles, CA, 90029 $985,000 -- -- -- 6,752 Sqft(Lot)
1127 N Normandie, Los Angeles, CA, 90029 $849,000 -- -- -- 5,352 Sqft(Lot)
5301 Sierra Vista, Los Angeles, CA, 90029 $6,000,000 -- -- -- 19,114 Sqft(Lot)
5432 Virginia Avenue, Los Angeles, CA, 90029 $4,490,000 -- -- -- 14,992 Sqft(Lot)

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ByOwner last updated this listing 06/21/2026 @ 20:25

MLS: 26839037 LISTED BY: Daniel Lalezari, Keller Williams Hollywood Hills 310-623-1300 SOURCE: CRMLS

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