6575 Fountain Avenue, Los Angeles

$1,895,000

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12 Beds
12 Baths
16,080 Sqft
.16 Acre
0 Garage

**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**

Essential Information

MLS® #
23310631
Price
$1,895,000
Bedrooms
12
Bathrooms
12.00
Full Baths
12
Square Footage
16,080
Acres
0.16
Year Built
1920
Type
Residential
Sub-Type
Single Family Residence
Status
Active

Community Information

Address
6575 Fountain Avenue
Area
C20 - Hollywood
City
Los Angeles
County
Los Angeles
Zip Code
90028
Senior Community
N

Amenities

Parking
None
Garages
None
View
City Lights
Pool
None

Interior

Interior
Wood
Heating
None
Cooling
None
Fireplaces
None
# of Stories
4
Stories
One

Additional Information

Date Listed
September 12th, 2023
Days on Market
231
Zoning
LAR3

Listing Details

Agent
Jonathan Massaband
Office
Onyx Realty Inc.

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Buyer's Agent

Jeremiah Moersch REALTOR®

Office: 760-533-2540
Listing Agent
Jonathan Massaband - Onyx Realty Inc.

Based on information from California Regional Multiple Listing Service, Inc. as of May 1st, 2024 at 4:20am PDT. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.