CA > North Hollywood
North Hollywood, CA 91601,5444 Camellia AVE
North Hollywood, CA 91601,5444 Camellia AVE
North Hollywood, CA 91601,5444 Camellia AVE
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John Herkenrath

John Herkenrath

+1(310) 221-2910
$2,050,000
Est. payment /mo
6,586 Sqft Lot
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UPDATED:

Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID 25607381

HOA Y/N No

Lot Size 6,586 Sqft

Property Description

KW Commercial is proud to present an exceptional ready-to-issue (RTI) 46-unit, 100% affordable housing ED 1 development opportunity located in the heart of North Hollywood's vibrant NOHO Arts District! Situated on a 6,591 sq. ft. corner lot, this 5-story apartment project is thoughtfully designed for maximum efficiency and minimal construction complexity. The unit mix includes 2 two-bedroom units, 27 one-bedroom units, and 16 studios, offering approximately 19,925 sq. ft. of rentable space. Located less than half a mile from the NOHO Metro Red Line Station, residents will enjoy easy access to public transportation and the abundance of shopping, dining, and entertainment that make the NOHO Arts District one of Los Angeles' most desirable neighborhoods. With a Walk Score of 87 and a Bike Score of 74, the property promises high tenant demand and stable occupancy for years to come. This 100% affordable housing community includes: 2 units reserved for very low-income households ( 50% AMI), 34 units reserved for low-income households ( 80% AMI), 8 units reserved for moderate-income households ( 110% AMI), and 1 market-rate manager's unit. Rents for the very low-and moderate-income units follow HCD Schedule VI, while the low-income units align with TCAC Schedule IX. Additionally, the property's location is ideal for attracting Section 8 voucher tenants, potentially increasing rental income by up to 20% per unit. The proposed design features zero parking spaces, significantly reducing construction costs for developers. The site is currently improved with a vacant duplex, eliminating the need for tenant relocation and ensuring a smooth path to construction. Don't miss this rare opportunity to develop a fully affordable housing project in a high-demand Los Angeles neighborhood, all at an exceptional value of just $45K per unit!! Contact the listing agent today for additional information or to request a full set of approved plans.

Location

State CA

County Los Angeles

Area Nho - North Hollywood

Zoning LARD1.5

Interior

Fireplace No

Exterior

View Y/N No

View None

Building

New Construction No

Others

Senior Community No

Tax ID 2350009047

Special Listing Condition Standard

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CRMLS – RECore
Listed by Daniel Shamooelian Keller Williams Beverly Hills
John Herkenrath

"John takes great pride in helping his clients through every step of the buying and selling process. Leveraging two decades of experience in pre-construction, new home sales and market sales exclusive representation. his vast knowledge in brokering home sales within luxury communities and new developments has proven invaluable to his clients."

+1(310) 221-2910

johnherkenrath@epiquerealty.com

8383 Wilshire Blvd #800 Beverly Hills CA 90211

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