1237 N Orange Dr, Los Angeles, CA 90038

Property Description

Sold before processing. Entered on the MLS for Comp Purposes only. Attention Developers! Opportunity in the heart of Hollywood with plenty of potential. The 7,210 square foot lot is zoned RD1.5-1XL which gives developers an opportunity to either take advantage of the Transit Oriented Community (TOC) Tier 2 incentives or Executive Directive 1 (ED1) incentives. Taking advantage of TOC Tier 2 would allow a developer to build up to 5 units plus 1 ADU. ED1 would allow a developer to build between 20-30 affordable housing units with an expedited approval process. The property is completely paid off, vacant (no tenant relocation required), and no easements or encroachment per the Preliminary Title Report. Nestled just south of Fountain Ave in between Sunset Blvd. and Santa Monica Blvd., allows for convenient access to major freeway and public transportation options. This site is in a prime location for commuting, shopping, entertainment, and dining, which should assure a consistent demand for real estate for years to come. Don't miss your chance to purchase a prime development opportunity with so much potential! Land is vacant and ready to build.