Development Opportunity in North Hollywood Approved Plans for 22 Residential Units and 5 ADUs An exceptional opportunity awaits developers in the thriving North Hollywood area! This prime 10,803 SF lot comes with approved plans for a 22-unit residential building, along with 5 recreational ADU units. All necessary approvals have been secured, including LADWPs approval to serve the project, and the development will be delivered with fully approved MEP plans. The property, which spans 10,805 square feet (0.248 acres), offers approximately 80 feet of frontage on North Riverton Avenue and a depth of around 135 feet. Currently, the site includes two residential buildings and a garage/storage structure. Zoned R3-1VL, TIER 3, and located within a State Enterprise Zone. Key Features: Approved plans for a 22-unit residential building and 5 recreational ADUs, one on each floor Building height of 56 feet, with five residential floors and subterranean parking Total development space of approximately 31,622 square feet (FAR of 4.3:1) Unit mix includes 3 one-bedroom units, 17 two-bedroom units, and 2 three-bedroom units 23 on-site parking spaces Buyer required to record the low-income covenant in their name for two units, pay necessary fees, and obtain the permit to complete the housing process This property represents a rare opportunity to develop a high-density residential project in a rapidly growing and sought-after location. Dont miss out on this incredible development potential! For more information or to schedule a viewing, contact the listing agent today.
Development Opportunity in North Hollywood Approved Plans for 22 Residential Units and 5 ADUs An exceptional opportunity awaits developers in the thriving North Hollywood area! This prime 10,803 SF lot comes with approved plans for a 22-unit residential building, along with 5 recreational ADU units. All necessary approvals have been secured, including LADWPs approval to serve the project, and the development will be delivered with fully approved MEP plans. The property, which spans 10,805 square feet (0.248 acres), offers approximately 80 feet of frontage on North Riverton Avenue and a depth of around 135 feet. Currently, the site includes two residential buildings and a garage/storage structure. Zoned R3-1VL, TIER 3, and located within a State Enterprise Zone. Key Features: Approved plans for a 22-unit residential building and 5 recreational ADUs, one on each floor Building height of 56 feet, with five residential floors and subterranean parking Total development space of approximately 31,622 square feet (FAR of 4.3:1) Unit mix includes 3 one-bedroom units, 17 two-bedroom units, and 2 three-bedroom units 23 on-site parking spaces Buyer required to record the low-income covenant in their name for two units, pay necessary fees, and obtain the permit to complete the housing process This property represents a rare opportunity to develop a high-density residential project in a rapidly growing and sought-after location. Dont miss out on this incredible development potential! For more information or to schedule a viewing, contact the listing agent today.