745 N Croft Ave - Residential LAND FOR SALE
Los Angeles, CA 90069 |
745 N Croft Ave
Los Angeles, CA 90069
HIGHLIGHTS
- Ideally located in the heart of LA’s Westside just steps away from famed Melrose Place
- Existing improvements consist of a VACANT duplex
- Favorably zoned (Q)R3-1, the site offers an astute developer with a multitude of redevelopment options
- Current rent/SF of rentals in the immediate area exceed $6.00
- As a highly desirable market, multifamily performance has remained robust. Average rents in this area are some of the highest in the state.
- Incredible location close to the Beverly Center, the Grove, the Sunset Strip, and the Hollywood Hills
OVERVIEW
Jonathan Taksa of Taksa Investment Group, part of RE/MAX Commercial & Investment Realty, is pleased to present a prestigious development opportunity located in a premier area of the Westside. 745 N Croft Avenue is a VACANT duplex which boasts close proximity to Melrose Place, known for its high-end retail and incredible dining establishments. Favorably zoned (Q)R3-1, the site allows for a range of uses utilizing California’s recently adopted new housing laws intended to ease multifamily development including reduced parking requirements and allowance of accessory dwelling units (ADUs) on certain sites. Eligible for Tier 2 TOIA (Transit Oriented Incentive Area) with the potential to construct up to 18 units utilizing the CHIP (Citywide Housing Incentive Program), this exceptional and rare opportunity offers a buyer a
range of attractive redevelopment options in the thriving West Hollywood adjacent market.
FOR SALE DETAILS
PRICE
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# OF LOTS
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LAND DETAILS
PROPERTY NAME
Premier Dev. Site Steps to Melrose Pl.
PROPERTY TYPE
Land
PROPERTY SUBTYPE
Residential
LAND PROPOSED USE
Multi-Family, Apartment Units, Apartment Units - Condo
LAND ACRES
-
LAND SF
-
OFFSITE IMPROVEMENTS
Sewer, Water, Electricity, Gas, Streets, Curb/Gutter/Sidewalk, Cable, Telephone, Irrigation
ZONING
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APN/PARCEL ID
5528-001-024
