6575 Fountain Avenue

Los Angeles, CA 90028

$1,895,000

List Price

12

bed Beds

12

shower Baths

16,080 sqft

straighten / sqft

1920

calendar_month Built

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**

Listing Information

List Price $1,895,000
Status Pending
MLS 23310631
Type Residential
Subtype Single Family Residence
Year Built 1920
Lot Size 6,998
Structure Size 16,080
DOM 354
Courtesy Of Onyx Realty Inc.
Listing Agent Jonathan Massaband DRE#01745021

Interior Features

Laundry Information
Location(s) None
Total Bedroom
Bedrooms 12
Total Bathroom
Bathrooms 12
Flooring Information
Material Wood
Fireplace Information
Features None
Cooling Type
Cooling Type None

Exterior Information

Maps

Listing information courtesy of: Jonathan Massaband, Onyx Realty Inc. . *Based on information from the Association of REALTORS/Multiple Listing as of Sep 24th, 2024 at 7:58 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.