636-642 Larchmont BlvdLos Angeles, CA 90004

Property Details for 636-642 Larchmont Blvd

Property size (Sq ft)

11,244 SF

Property type

Office properties

Property subtype

Mixed-use properties

Description

This exceptional redevelopment opportunity encompasses two lots totaling 11,244 square feet at 636-642 N Larchmont Blvd in Los Angeles, CA 90004 (APN: 5523-013-004 / 5523-013-003). Situated in the coveted Larchmont Village, near Paramount Studios and Hollywood, this property boasts a highly desirable location with excellent visibility and accessibility. Both lots are zoned C2, offering significant flexibility for various commercial uses, including mixed-use developments incorporating retail, office, or residential units. Alternatively, the site is ideal for multifamily residential construction, capitalizing on the area's high housing demand. Under current zoning regulations, the combined lots allow for the construction of 28 units by-right. However, significant density bonuses are available: a 30% bonus increases this to 36 units, while a 60% bonus under Tier 2 allows for up to 44 units. Income restrictions apply to these bonuses, requiring a percentage of units to be designated as Extremely Low Income (ELI), Very Low Income (VL), or Lower Income. The property is being offered for sale as a whole or individually, catering to diverse investment strategies. This rare opportunity presents a compelling investment in a vibrant and strategically located area of Los Angeles, with significant potential for substantial returns. The property will be delivered vacant.

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.0829

Longitude

-118.324

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