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443 - 449 N Virgil AVE Los Angeles, CA 90004
0.34 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 25527799
HOA Y/N No
Lot Size 0.345 Acres
Property Description
We are pleased to present a15,016 SF double-lot residential redevelopment opportunity located at 443-449 N Virgil Avenue, LosAngeles, California. The subject property is located in a great East Hollywood location, north of Beverly Boulevard and east of N Vermont Avenue. Originally built as two (2) separate SFRs on two (2) concurrent parcels, this redevelopment opportunity is zoned R3-1 with numerous project options. Totaling 15,016 SF, a developer could choose to simply add square footage and an ADU on each lot. The zoning allows for nine (9) units by-right on each lot which opens the door to a nice townhouse style redevelopment. Utilizing MIIP under CHIP, the recently up zoned land can take advantage of T-2 TOIC to add 110%density for up to twenty-one (21) units per lot. A completed project will enjoy the benefits of living in one of the best submarkets for absorption across the LA metro on a major commercial corridor with tons of activity nearby in Virgil Village, Silver Lake, Echo Park,Hollywood, and Koreatown. Residents will appreciate living next to trendy amenities across Virgil Avenue, Beverly Boulevard, and throughout the Eastside. Young professionals will appreciate the close proximity to the freeway, Downtown LA, and Hollywood. Situated in a prime East Hollywood location, this offering presents a rare opportunity to develop up to forty-two (42) units under CHIP on two (2) concurrent parcels in a rapidly developing submarket with strong absorption and rent growth.
Location
State CA
County Los Angeles
Area C21 - Silver Lake - Echo Park
Zoning LAR3
Interior
Fireplace No
Exterior
View Y/N Yes
Building
Lot Description Irregular Lot, Value In Land
New Construction No
Others
Senior Community No
Tax ID 5539034008
Special Listing Condition Standard
Listed by John Boyett • CBRE