We are pleased to present a development opportunity in the Hollywood area of Los Angeles. The offering, consists of 12,000 square feet of R3-1XL of raw land. The Zoning restricts the height of a new development to 30 feet. The XL zoning also restricts development to a two story project above parking. The dimensions of the parcel are 60 ft. wide and 200 ft. deep. There is currently no structure on the property therefore there will be no cost for relocating tenants or demolition. The zoning allows for 15 units to be built by right. By using density bonus a builder can build up to 21 units. The area is rapidly gentrifying and there are many new developments in close proximity to the property. The property is close to the Western and Hollywood Metro Station and is surrounded by supermarkets and restaurants and boasts a Walk Score of 88.
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