CA > Los Angeles
Los Angeles, CA 90004,643 N Rossmore AVE
Los Angeles, CA 90004,643 N Rossmore AVE
Los Angeles, CA 90004,643 N Rossmore AVE
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$1,890,000
Est. payment /mo
6,459 Sqft Lot
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UPDATED:

11/21/2024 11:02 PM

Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID 24466135

HOA Y/N No

Lot Size 6,459 Sqft

Property Description

We are excited to offer a unique investment opportunity with the presentation of 643 N Rossmore Ave, a prime vacant lot in the prestigious Hancock Park & Larchmont Village area of Los Angeles. Spanning 6,459 square feet and zoned R4-2 within a Tier 1 Transit Oriented Community (TOC), this property stands out as an ideal site for multifamily development. Developers have the potential to construct 16 units by-right, with the option to expand to 26 units by leveraging TOC incentives. Preliminary plans are already in place for a 25-unit, six-story apartment complex totaling 18,641 square feet. The proposed project includes 23 one-bedroom units ranging from 513 to 590 square feet and two three-bedroom units between 840 to 850 square feet. Additionally, the plans provides for subterranean and ground level parking with a total of 18 spaces. This property is not only situated in a prime location just south of Melrose Ave, but it also boasts a high walk score of 93. It's a short distance from the Wilshire Country Club, Los Angeles Tennis Club, and the Marlborough School, and within walking distance to a variety of retail amenities along N Larchmont Blvd. Paramount Studios is also just half a mile away. The neighborhood's strong demographics are highlighted by an average household income of $91,486 within a 5-mile radius and a median home value of over $1 million within two miles, making it an attractive area for residential development. The central location offers easy commutes throughout Los Angeles, including Hollywood, West Hollywood, Beverly Hills, Los Feliz, and La Brea. This vacant lot presents a unique opportunity for developers seeking a project with significant density potential, in a sought-after location, without the need for relocation.

Location

State CA

County Los Angeles

Area C18 - Hancock Park-Wilshire

Zoning LAR4

Interior

Fireplace No

Exterior

View Y/N No

View None

Building

New Construction No

Others

Senior Community No

Tax ID 5523007003

Special Listing Condition Standard

Read Less Info
California Regional MLS (CRMLS)
Listed by Neema Ahadian • Marcus & Millichap

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