1222 Beachwood DrLos Angeles, CA 90038

Property Details for 1222 Beachwood Dr

Property type

Land

Property subtype

Apartment buildings

Description

This exceptional redevelopment opportunity presents a fully entitled 11-unit apartment building project in the highly desirable Hollywood, CA 90038 zip code. Ready-to-issue (RTI) plans are in place for a modern 4-story building featuring a mix of 8 market-rate and 3 low-income units, totaling 11,107 square feet with 9,547 square feet of livable space. The unit mix includes four 1-bedroom/1-bathroom, two 2-bedroom/2-bathroom, and five 3-bedroom/3-bathroom units. The project includes 14 vehicle parking spaces and 24 bicycle spaces (20 long-term, 4 short-term). Situated on a 6,752 square foot lot zoned LAR3, this development boasts a convenient location with a Walkscore of 88, placing it within easy walking distance of iconic landmarks and vibrant entertainment options. The property benefits from its location within an Opportunity Zone, offering potential tax incentives (buyer to verify). This prime location, combined with the existing RTI plans and desirable unit mix, presents a compelling investment opportunity with significant potential for appreciation. The absence of an existing structure eliminates the costs associated with demolition or tenant buyouts. This project offers investors a chance to contribute to Hollywood's ongoing revitalization and create a residential landmark in a highly sought-after neighborhood.

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.0933

Longitude

-118.321

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