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Elite Real Estate Group
info@elitereg805.com$1,800,000
Est. payment /mo
2 Beds
2 Baths
1,620 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 1,620 sqft
Price per Sqft $1,111
MLS Listing ID 25552323
Bedrooms 2
HOA Y/N No
Year Built 1919
Lot Size 5,501 Sqft
Property Description
***RTI Plans Available Upon Request*** 1514 La Baig Ave is a duplex (delivered vacant) located on a 5,499 SF lot in the center of the Hollywood Media District; just two parcels north of Sunset Blvd. The property comes with Ready-to-issue (RTI) plans to develop a 9-unit market-rate multifamily complex. Plans call for (1) 2-bdrm. unit, (3) 1-bdrm. units, and (5) singles. This site is eligible (buyer to verify) for Opportunity Zone tax benefits and is aligned with the recently enacted Hollywood Community Plan, which significantly increases allowable density incentivizes affordable housing, and encourages transit-oriented growth throughout the Sunset and Hollywood corridors. This is a rare opportunity to acquire a development-ready site in a dynamic growth corridor, surrounded by major film and media employers, new mixed-use development, and transformative infrastructure investment. The property neighbors a new 109-unit apartment complex by CIM, across from Sunset Bronson Studios and Emerson College, and adjacent to the Netflix headquarters campus. A block away, the much-anticipated $1 billion "The Star" tower, designed by Norman Foster, is set to redefine the local skyline and inject over half a million square feet of new Class A creative space. The property comes with Ready-to-issue (RTI) plans to develop a 9-unit market-rate multifamily complex. Plans call for (1) 2-bdrm. unit, (3) 1-bdrm. units, and (5) singles. This site is eligible (buyer to verify) for Opportunity Zone tax benefits and is aligned with the recently enacted Hollywood Community Plan, which significantly increases allowable density incentivizes affordable housing, and encourages transit-oriented growth throughout the Sunset and Hollywood corridors. The existing improvements include (2) 1-bdrm. bungalow-style units. The property also features covered and surface parking, plus a standalone garage. Please note, the units are separately metered. 1514 La Baig is a forward-looking investment in a creative corridor that continues to attract capital, talent, and transformative growth.The existing improvements include (2) 1-bdrm. bungalow-style units. The property also features covered and surface parking, plus a standalone garage. Please note, the units are separately metered. 1514 La Baig is a forward-looking investment in a creative corridor that continues to attract capital, talent, and transformative growth.
Location
State CA
County Los Angeles
Area C20 - Hollywood
Zoning LAR4
Interior
Fireplace No
Exterior
Parking Features Covered, Door-Single, Garage, Uncovered
Garage Spaces 1.0
Garage Description 1.0
View Y/N No
View None
Total Parking Spaces 3
Building
Story 1
Entry Level One
Architectural Style Bungalow
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 5545007048
Special Listing Condition Standard
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Listed by Max Berger • Compass
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Elite Real Estate Group
Team