4853 Melrose AveLos Angeles, CA 90029
- Land
Property Details for 4853 Melrose Ave
- Property type
- Land
Description
Exceptional development opportunity awaits on this 13,230 sq ft lot located at 4853 Melrose Ave, Los Angeles, CA 90029. Zoned C1-1D Tier 2 TOC, this property offers the potential to construct up to approximately 66 residential units. The lot boasts 100 feet of frontage on Melrose Avenue and a depth of 132 feet, situated on a slight upslope. Its prime location places it conveniently near Hollywood and Koreatown, with easy access to the Metro Subway Station. Walk Score designates this area a "Walker's Paradise," reflecting its walkability and proximity to amenities. The property benefits from a clean Phase 1 environmental report, with no RSO or replacement issues. The two APNs included are 5535-029-034 & 5535-029-035. This is a unique chance to capitalize on the area's revitalization and create a high-impact development. The By-Right FAR can be maximized utilizing the Tier 2 TOC or Density Bonus. The asking price is $2,000,000. This property presents a compelling investment opportunity in a rapidly evolving neighborhood with significant potential for future appreciation. The site's dimensions and zoning regulations allow for creative design solutions to maximize unit count and potentially incorporate street-level parking. Nearby new construction and ongoing projects further underscore the area's growth trajectory.
Location Insight
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Latitude
- 34.0836
- Longitude
- -118.306
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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