1110-1116 N Gower Street is an attractive opportunity for developer looking to purchase in the Hollywood market while being located in an Opportunity Zone. - The newly passed Hollywood Community Plan Update goes into effect mid-February 2025 and has rezoned the entire property to commercial [Q]C2-2D-CPIO, and increases the unit density from R3 (1 unit per 800 SF land) to R4 (1 unit per 400 SF land) - With the property being delivered vacant, having a large square land area, and being located right off the signalized intersection of Santa Monica Boulevard and Gower Street, 1110-1116 N Gower Street provides an excellent development opportunity in the booming Hollywood market. - Ideal development site for an apartment building (see Property Description for more details on zoning) - Demand for housing in Hollywood is very high, and apartment rents are on a steady upward trajectory - The property is located in an Opportunity Zone providing tax incentives and deferred capital gains if the proper amount of capital is invested into the property. 1110-1116 N Gower Street is comprised of approximately 13,000 square feet of commercial land zoned [Q] C2-2D-CPIO. The newly passed Hollywood Community Plan Update (HCPU) goes into effect mid-February 2025 and has rezoned the entire property to commercial zoning, [Q]C2-2D-CPIO. This has increased the allowable unit density from R3 (1 unit per 800 SF land) to R4 (1 unit per 400 SF land). Per the new HCPU or State Affordable bonus laws, additional density bonuses and development incentives are allowed increasing the subject property’s development potential. The property has two unoccupied structures that are approximately 4,173 SF, and will be delivered vacant at the close of escrow. The project is one parcel north of the northeast corner of Santa Monica Boulevard and Gower Street which is a signalized intersection. The Property is located in the Eastern portion of Hollywood, an area that is rapidly gentrifying and home to a large number of tenants in the Entertainment Industry. This is an area that has seen rapid growth and development due to the need for housing and the growth and expansion of several office tenants, particularly Netflix, in the immediate area. The density, development and growth has been moving from west to east, but the rapid expansion of Netflix also is causing developments in the areas to the north of the Opportunity.