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6575 Fountain Avenue

Los Angeles (City), CA 90028
  • $1,895,000
  • STATUS: Active
  • ON SITE: 170 Days
  • ID#: 23310631
$1,895,000
  • 12
    BEDS
  • 0.16
    ACRES
  • 12
    BATHS
  • 0
    1/2 BATHS
  • 16,080
    SQFT
  • $118
    $/SQFT
Neighborhood:
Type:
Single-Family Home
Built:
1920
County:

School Ratings & Info

Listing Agent(s): Jonathan Massaband of Onyx Realty Inc. (310-275-3915)


Description

**FULLY APPROVED PLANS w/ RTI PERMITS** We're pleased to present this one-of-a-kind, fully entitled Ready-To-Issue (RTI) development opportunity in the desirable and growing Hollywood neighborhood. Boasting a high Walk Score, the proposed project is situated a short distance from Sunset Blvd and is surrounded by a plethora of amenities. Utilizing TOC incentives, the development consists of 12 units with a contemporary design, featuring a 4-story mid-rise wood-frame structure, 14 onsite subterranean parking spaces & a unit mix of luxury one & two bedroom units. Entitlements are complete, allowing a buyer to begin construction immediately. Located in an exclusive HUD approved 'Opportunity Zone', this LAR3 - 1XL property sits on a spacious 7,000SF pad with approved plans to build up to approximately 22,870SF (16,080SF Residential Living Space plus 6,790SF Subterranean Garage). Priced to provide compelling exit metrics for a developer/buyer. See Offering Memo for a detailed analysis of residual land value. **SELLER FINANCING may be available for qualified buyers**

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-03-01T00:31:17.237. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Stefanie Angel Team | Keller Williams Victor Valley. Licensed in the State of California, USA.
www.thestefanieangelteam.com/homes/143335509
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6575 Fountain Avenue Los Angeles (City), CA 90028

  • Price: $1,895,000
  • Status: Active
  • On Site: 170 Days
  • ID#: 23310631
12
Beds
12
Baths
0
½ Baths
0.16
Acres
16,080
SQFT
$118
$/SQFT
1920
Built
Neighborhood:
C20 - Hollywood
County:
Los Angeles
Area:
C20 - Hollywood
Property Description
**FULLY APPROVED PLANS w/ RTI PERMITS** We're pleased to present this one-of-a-kind, fully entitled Ready-To-Issue (RTI) development opportunity in the desirable and growing Hollywood neighborhood. Boasting a high Walk Score, the proposed project is situated a short distance from Sunset Blvd and is surrounded by a plethora of amenities. Utilizing TOC incentives, the development consists of 12 units with a contemporary design, featuring a 4-story mid-rise wood-frame structure, 14 onsite subterranean parking spaces & a unit mix of luxury one & two bedroom units. Entitlements are complete, allowing a buyer to begin construction immediately. Located in an exclusive HUD approved 'Opportunity Zone', this LAR3 - 1XL property sits on a spacious 7,000SF pad with approved plans to build up to approximately 22,870SF (16,080SF Residential Living Space plus 6,790SF Subterranean Garage). Priced to provide compelling exit metrics for a developer/buyer. See Offering Memo for a detailed analysis of residual land value. **SELLER FINANCING may be available for qualified buyers**
Exterior Features

Direction Faces East Parking Features None Parking Total 0 Pool Features None Pool Private YN No Spa Features None Spa YN No View City Lights View YN Yes

Interior Features

Common Walls No Common Walls Cooling None Cooling YN No Fireplace Features None Fireplace YN No Flooring Wood Furnished Unfurnished Heating None Heating YN No

Property Features

Association YN No Laundry Features None Levels One Listing Agreement Seller Reserved Listing Service Full Service New Construction YN No Possession Close Of Escrow Property Sub Type Single Family Residence Senior Community YN No Special Listing Conditions Standard Zoning LAR3



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-03-01T00:31:17.237. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Stefanie Angel Team | Keller Williams Victor Valley. Licensed in the State of California, USA.
 
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The Stefanie Angel Team | Keller Williams Victor Valley
18333 Bear Valley Rd.
Hesperia CA, 92345
Listing Agent(s): Jonathan Massaband of Onyx Realty Inc. (310-275-3915)