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    549 N Heliotrope Drive

    Los Angeles (City), CA 90004
    • $1,424,000
    • STATUS: Active
    • ON SITE: 151 days
    • ID#: 20563576
    UPDATED: 194 min ago
    $1,424,000
    • 0
      BEDS
    • 0.18
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Vacant Land / Lots
    County:

    School Ratings & Info

    Description

    Presented for sale is a beautifully designed 17 Unit Residential Project located on Heliotrope Drive in the Los Angeles City College area. The project offers developers the opportunity to build four-stories on top of an on-grade podium which would house 9 parking spaces. The project site, which currently houses a vacant duplex, is situated just a half-mile away from the Vermont / Beverly Metro Subway Station, and is bordered by East Hollywood to the north, Silver Lake to the northeast, and Koreatown to the south. The building will be comprised of 9 studios, 6 two-bed & two-bath, and 2 three-bed & two-bath homes. This project will be delivered Ready-to-Issue with the possibility of having 4 Affordable Units with no Rent Control or 3 Affordable Units with Rent Control. Potential to stabilize near 6.5% cap rate with market rents.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-08-11T00:30:19.827. 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 Team Tami | Palm Realty Boutique. Licensed in the State of California, USA.

    www.playavistaliving.com/homes/104114934
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    549 N Heliotrope Drive Los Angeles (City), CA 90004

    • Price: $1,424,000
    • Status: Active
    • Updated: 194 min ago
    • ID#: 20563576
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.18
    Acres
    Neighborhood:
    C17 - Mid-Wilshire
    County:
    Los Angeles
    Area:
    C17 - Mid-Wilshire
    Property Description
    Presented for sale is a beautifully designed 17 Unit Residential Project located on Heliotrope Drive in the Los Angeles City College area. The project offers developers the opportunity to build four-stories on top of an on-grade podium which would house 9 parking spaces. The project site, which currently houses a vacant duplex, is situated just a half-mile away from the Vermont / Beverly Metro Subway Station, and is bordered by East Hollywood to the north, Silver Lake to the northeast, and Koreatown to the south. The building will be comprised of 9 studios, 6 two-bed & two-bath, and 2 three-bed & two-bath homes. This project will be delivered Ready-to-Issue with the possibility of having 4 Affordable Units with no Rent Control or 3 Affordable Units with Rent Control. Potential to stabilize near 6.5% cap rate with market rents.
    Exterior Features

    Lot Size Dimensions 50X160 Lot Size Source Assessor Lot Size Units Square Feet

    Property Features

    Lot Dimensions Source Assessor Special Listing Conditions Standard Zoning R3-1 Tier 3

    Listing provided courtesy of Dario Svidler of Compass and Justin Ruder of Compass


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-08-11T00:30:19.827. 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 Team Tami | Palm Realty Boutique. Licensed in the State of California, USA.

     
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