5837 Willoughby Ave - Prime LAR3 Development Opportunity in Hollywood!

We are pleased to present for a sale a prime LAR3 development opportunity in Hollywood.

Located just steps away Paramount Studios, this FLAT ~6,500 sqft lot offers a developer the opportunity to build 8 units by right or up to 15 units using TOC Incentives.

Perfect for double duplex/townhome style units as well.

Attractive seller financing terms available, call for more details.

Also an excellent opportunity to build an ED 1, fully affordable housing project.

Lot dimensions are 50 sqft by 130 sqft, zoned R3-1XL, TOC Tier 2, and comes with an alley.

Subject property is currently a single family duplex featuring 4 bedrooms and 2 bathrooms with 1681 square feet of living space.

It also has other features such as a fireplace, other rooms, in-unit laundry, and other heating/cooling and floor types.

This property has been owner occupied for the last 5+ years, meaning no dealing with tenant relocation or new onerous SB 8 regulations.

The site is located within an Opportunity Zone, which may provide additional tax incentives (buyer to verify).

Do not miss this opportunity to purchase a RARE development site near all the shopping, restaurants, transportation, and amenities that Hollywood has to offer its tenants.

Excellent location close to Paramount Studios, West Hollywood, Larchmont Village & Hancock Park.

Buyer to verify all zoning regulations with LADBS.

Property to be sold As-Is.

Contact listing agent for more details.