Skip To Content

6142 Hazelhurst Place

North Hollywood, CA 91606
  • $2,200,000
  • STATUS: Active
  • ON SITE: 14 Days
  • ID#: SR24095212
UPDATED: 126 min ago
$2,200,000
  • 0
    BEDS
  • 0.37
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Vacant Land / Lots
County:

School Ratings & Info

Listing Agent(s): Francis Evanisko of Evanisko Realty & Investment (818-985-9700)


Description

Existing burned duplex sold for land value only.There are ten reasons why we believe youve just stumbled upon what could be a near-perfect affordable housing development land acquisition opportunity. The site possesses the optimal zoning and economic incentives in place like Opportunity Zone/ED-1 Eligible/TOC/AB 2334 Very Low VMT/AB 2097 Reduced Parking Areas, etc. etc. etc. The site is not in a specific plan or in a Redevelopment Area.The site is located next to a swath of R1 zoned property (free parking?).The site is located a block from grocery, and CVS and, of course, Starbucksessentially a stones throw from every critical amenity.The site is walking distance (1-mile) from NoHo station (both rail and bus transportation) making it viable to live at the property and not own a car.The site is an uncommonly large single lot consisting of 16,316 SF of land with 60 of frontage. Its not too big of a project yet formattable enough to be compelling for a wide spectrum of investment and development organizations.The site is flat.The site will not require the displacement of tenants as the duplex on site has been vacant for over 5+ years (abatement filed by City in 2019) after fires burned the property. The demo is not complete. Hence, the lookback period is 5 years. The likelihood of zero replacement units also opens of conversation for less dense development typologies.The site is 1,800 feet from NoHo west; the perfect market rate rent barometer demonstrating rental rates for 1 beds about 30% higher than the deed restricted amounts mandated for 1 bed units under ED-1.The site enjoys immediate adjacency to a 10 unit building and 12 unit building to the north and south respectively. Hence, views from the proposed new project will not be affected likely for many years into the future (the likelihood of demolition of such buildings is low in the near term).

Monthly Payment Calculator



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-05-25T18:36:57.383. 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 Swell Property. Licensed in the State of California, USA.
www.swellproperty.com/homes/150434456
Print Image

6142 Hazelhurst Place North Hollywood, CA 91606

  • Price: $2,200,000
  • Status: Active
  • On Site: 14 Days
  • Updated: 126 min ago
  • ID#: SR24095212
0
Beds
0
Baths
0
½ Baths
0.37
Acres
Neighborhood:
NHO - North Hollywood
County:
Los Angeles
Area:
NHO - North Hollywood
Property Description
Existing burned duplex sold for land value only.There are ten reasons why we believe youve just stumbled upon what could be a near-perfect affordable housing development land acquisition opportunity. The site possesses the optimal zoning and economic incentives in place like Opportunity Zone/ED-1 Eligible/TOC/AB 2334 Very Low VMT/AB 2097 Reduced Parking Areas, etc. etc. etc. The site is not in a specific plan or in a Redevelopment Area.The site is located next to a swath of R1 zoned property (free parking?).The site is located a block from grocery, and CVS and, of course, Starbucksessentially a stones throw from every critical amenity.The site is walking distance (1-mile) from NoHo station (both rail and bus transportation) making it viable to live at the property and not own a car.The site is an uncommonly large single lot consisting of 16,316 SF of land with 60 of frontage. Its not too big of a project yet formattable enough to be compelling for a wide spectrum of investment and development organizations.The site is flat.The site will not require the displacement of tenants as the duplex on site has been vacant for over 5+ years (abatement filed by City in 2019) after fires burned the property. The demo is not complete. Hence, the lookback period is 5 years. The likelihood of zero replacement units also opens of conversation for less dense development typologies.The site is 1,800 feet from NoHo west; the perfect market rate rent barometer demonstrating rental rates for 1 beds about 30% higher than the deed restricted amounts mandated for 1 bed units under ED-1.The site enjoys immediate adjacency to a 10 unit building and 12 unit building to the north and south respectively. Hence, views from the proposed new project will not be affected likely for many years into the future (the likelihood of demolition of such buildings is low in the near term).
Exterior Features

Lot Features 16-20 Units/Acre11-15 Units/Acre21-25 Units/Acre26-30 Units/Acre36-40 Units/Acre31-35 Units/Acre View City Lights View YN Yes

Property Features

Additional Parcels YN No Association Fee 0 Association YN No Common Interest None Community Features CurbsStorm Drain(s)Street LightsSidewalksUrbanValley Land Lease YN No Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash to New Loan1031 Exchange New Construction YN No Senior Community YN No Special Listing Conditions Standard Water Source Public Zoning [Q]R3-1



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-05-25T18:36:57.383. 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 Swell Property. Licensed in the State of California, USA.
 
https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_372755393-2.jpg
Logo
Swell Property
1967 N. Coast Hwy 101
Encinitas CA, 92024
Listing Agent(s): Francis Evanisko of Evanisko Realty & Investment (818-985-9700)