Presented for sale is a beautifully designed 17 Unit Residential Project located on Heliotrope Drive in the Los Angeles City College area. The project offers developers the opportunity to build four-stories on top of an on-grade podium which would house 9 parking spaces. The project site, which currently houses a vacant duplex, is situated just a half-mile away from the Vermont / Beverly Metro Subway Station, and is bordered by East Hollywood to the north, Silver Lake to the northeast, and Koreatown to the south. The building will be comprised of 9 studios, 6 two-bed & two-bath, and 2 three-bed & two-bath homes. This project will be delivered Ready-to-Issue with the possibility of having 4 Affordable Units with no Rent Control or 3 Affordable Units with Rent Control. Potential to stabilize near 6% cap rate with market rents. Opportunity Zone!
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