For Sale
$1,395,000

12040 Stagg StLos Angeles, CA 91605

11-Unit Apartment Building, Redevelopment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 0.2-acre development site in North Hollywood, CA, presents a compelling investment opportunity. Located at 12040 Stagg St, this single-parcel corner lot offers 8,936 square feet and is zoned LAR3, permitting the construction of a four-story building with up to 11 units. The property's prime location, just one block from Laurel Canyon Boulevard, provides easy access to major entertainment centers. This site offers multiple redevelopment options, including a by-right development of an 11-unit, four-story building (45-foot height limit) or leveraging the State Density Bonus Program (AB1287) for up to 24 units in a five-story structure. Alternatively, developers could pursue a 100% affordable housing project using either the State Density Bonus or LA City ED1 programs. Preliminary plans exist for an 11,974 square foot, four-story multifamily building comprising seven one-bedroom/one-bathroom units and four two-bedroom/one-bathroom units, plus an accessory dwelling unit (ADU). The asking price is $1,395,000, translating to $156.11 per square foot. This property is ideal for investors and developers seeking to capitalize on the strong market fundamentals and growing demographics of North Hollywood, with its increasing appeal to young professionals and creatives. The property's APN is 2317-001-002 and the zip code is 91605. The year built is projected for 2025.

Highlights

  • Multiple redevelopment options, including up to 24 units via density bonus programs.
  • Prime corner lot location one block from Laurel Canyon Boulevard, offering excellent access to Hollywood and West Hollywood.
  • Strong demand fueled by limited housing supply and growing appeal to young professionals and creatives.
  • Exceptional market fundamentals in North Hollywood.

Property Details for 12040 Stagg St

Property type
Apartment buildings
Square Feet
8,936 SF
Year Built
2025
Buildings
1
Stories
4
Lot Size (sq. ft)
8,712 SF
Units
11

Location Insight

City
Los Angeles
County
Los Angeles
State
California
Latitude
34.2118923
Longitude
-118.3957488
12040 Stagg St, Los Angeles, California

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
12040 Stagg St
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message