Loading...

11241 Otsego, North Hollywood, CA 91601

$3,500,000

Corner Property
SCROLL
Share This Property on Facebook Share This Property on Google+ Tweet This Property
property information
PRIME NOHO R4 LOT FOR DEVELOPMENT
$3,500,000
LOT SIZE:
17,824
PROPERTY OVERVIEW

Prime Multifamily Development Opportunity for sale at
$79,545 per buildable unit (by-right) and only $196/Lot SF.
The existing LAR4-1VL zoning allows for a by-right
development of 44 units, or 1 unit per 400 SF of land
The subject property is comprised of nine 1Br + 1Ba units
and five 2Br + 1Ba units. Each unit has separate hot water
heater, gas and electric meters. There is rear carport parking
as well as storage units inside the carports. There is a
laundry room in the courtyard area. The property is fully
gated with an electric gate into the parking lot. The building
was built in a unique and charming layout with rear exits,
patios and many units still featuring the original hardwood
floors.

LOCATION OVERVIEW

Extremely prime location in the North Hollywood Art's
District just two blocks from an upcoming Whole Foods 365
and numerous other retail and multifamily developments. The
subject property is located on the corner of Otsego and
Klump, just two blocks south of Magnolia and two blocks
west of Lankershim Blvd - one of the most sought after
corridor's in Los Angeles! The NoHo Art's District has been
booming for many years now, and the area continues to
demonstrate an appetite for rent growth and demand for
new housing. Multiple development projects as close as
across the street are under way, which will only improve the
neighborhood and create and even more valuable
opportunity for the subject property.
ADDITIONAL INFORMATION
  • Area of Town: NoHo Art's District
map
resources
PRINT A FLYER
SCHOOL INFORMATION

Find out more about the schools in this neighborhood.
share
 email
Sending Email...
Friend's Name
Friend's Email
Your Name
Your Email
Message
 
 Send me a copy of the email
 Send Message
contact
Charlie & Dana Coronado
Keller Williams Realty
323-841-2911 ~ 310-562-9630
CalBRE# 01723306 / 01746702
  
close
x
Pin This Photo