Thank you
Neema Ahadian
Marcus & Millichap
310-909-5500
643 N Rossmore Ave, a prime vacant lot in the prestigious Hancock Park & Larchmont Village area of Los Angeles. Spanning 6,459 square feet and zonedR4-2 within a Tier 1 Transit Oriented Community (TOC), thisproperty stands out as an ideal site for multifamily development.Developers have the potential to construct 16 units by-right, withthe option to expand to 26 units by leveraging TOC incentives.Preliminary plans are already in place for a 25-unit, six-storyapartment complex totaling 18,641 square feet. The proposedproject includes 23 one-bedroom units ranging from 513 to 590square feet and two three-bedroom units between 840 to 850square feet. Additionally, the plans provides for subterranean andground level parking with a total of 18 spaces.This property is not only situated in a prime location just south ofMelrose Ave, but it also boasts a high walk score of 93. It's a shortdistance from the Wilshire Country Club, Los Angeles Tennis Club,and the Marlborough School, and a varietyof retail amenities along N Larchmont Blvd. Paramount Studios isalso just half a mile away. The neighborhood's strong demographicsare highlighted by an average household income of $91,486 within a5-mile radius and a median home value of over $1 million within twomiles, making it an attractive area for residential development.The central location offers easy commutes throughout Los Angeles,including Hollywood, West Hollywood, Beverly Hills, Los Feliz, andLa Brea. This vacant lot presents a unique opportunity for developersseeking a project with significant density potential, in a sought-afterlocation, without the need for relocation.
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Total Baths: 0
Full Baths: 0
Half Baths: 0
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.1483
Lot Size Source: Other
Lot Size Square Feet: 6459
Original List Price: 2,500,000
Listing Contract Date: 2024-02-06
Listing Agreement: Seller Reserved
Parcel Number: 5523007003
Lease Term: Negotiable
Source Listing Status: Active
Source Neighborhood: C18 - Hancock Park-Wilshire
Postal Code Plus 4: 1210
Directions: South of Melrose Ave in the Hancock Park & Larchmont Village neighborhood of Los Angeles
Zoning: LAR4
Source Property Type: Land
Area: C18 - Hancock Park-Wilshire
Year Built Source: Vendor Enhanced
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
101 S Mariposa, Los Angeles, CA,90004 | $2,100,000 | 4 | 2 | 1,890 | 4796 Sqft |
161 S St Andrews Place, Los Angeles, CA,90004 | $4,550,000 | 21 | -- | 15,606 | 8490 Sqft |
641 N Hobart Boulevard, Los Angeles, CA,90004 | $7,550,000 | 18 | -- | 16,035 | 7506 Sqft |
4572 Rosewood Avenue, Los Angeles, CA,90004 | $1,295,000 | 4 | -- | 2,114 | 4994 Sqft |
543 N Heliotrope Drive, Los Angeles, CA,90004 | $2,150,000 | 10 | 5 | 4,808 | 8000 Sqft |
246 N Catalina Street #4, Los Angeles, CA,90004 | $2,500 | 1 | 1 | 690 | 7779 Sqft |
251 N Kenmore Avenue, Los Angeles, CA,90004 | $2,295,000 | 12 | -- | 6,852 | 7632 Sqft |
501 N Gower Street, Los Angeles, CA,90004 | $1,995,000 | 3 | 3 | 1,803 | 5577 Sqft |
4835 Elmwood Avenue #4835, Los Angeles, CA,90004 | $4,100,000 | 17 | -- | 6,870 | 7248 Sqft |
126 N Kingsley Drive, Los Angeles, CA,90004 | $1,950,000 | 5 | -- | 2,202 | 6171 Sqft |
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ByOwner last updated this listing 05/18/2024 @ 21:01
MLS: 24361099
LISTED BY: Neema Ahadian, Marcus & Millichap
SOURCE: CRMLS
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.