5837 Willoughby Avenue, Los Angeles

$1,395,000

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4 Beds
2 Baths
1,681 Sqft
.15 Acre
0 Garage

We are pleased to present for a sale a prime LAR3 development opportunity in Hollywood! Located just steps away Paramount Studios, this FLAT ~6,500 sqft lot offers a developer the opportunity to build 8 units by right or up to 15 units using TOC Incentives. Perfect for double duplex/townhome style units as well! Attractive seller financing terms available, call for more details! Also an excellent opportunity to build an ED 1, fully affordable housing project! Lot dimensions are 50 sqft by 130 sqft, zoned R3-1XL, TOC Tier 2, and comes with an alley! Subject property is currently a duplex that will be delivered VACANT!! Property has been owner occupied for the last 5+ years, meaning no dealing with tenant relocation or new onerous SB 8 regulations! The site is located within an Opportunity Zone, which may provide additional tax incentives (buyer to verify). Do not miss this opportunity to purchase a RARE development site near all the shopping, restaurants, transportation, and amenities that Hollywood has to offer its tenants!! Excellent location close to Paramount Studios, West Hollywood, Larchmont Village & Hancock Park. Buyer to verify all zoning regulations with LADBS. Property to be sold As-Is. Contact listing agent for more details!

Essential Information

MLS® #
23326509
Price
$1,395,000
Bedrooms
4
Bathrooms
2.00
Full Baths
2
Square Footage
1,681
Acres
0.15
Year Built
1921
Type
Residential
Sub-Type
Single Family Residence
Style
Other
Status
Active Under Contract

Community Information

Address
5837 Willoughby Avenue
Area
C20 - Hollywood
City
Los Angeles
County
Los Angeles
Zip Code
90038
Senior Community
N

Amenities

Parking
Driveway
Garages
Driveway
View
None
Pool
None

Interior

Stories
One

Additional Information

Date Listed
October 30th, 2023
Days on Market
186
Zoning
LAR3

Listing Details

Agent
Daniel Shamooelian
Office
Keller Williams Beverly Hills
Property History
Status Changed from Active to Active Under Contract

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Buyer's Agent

Jeremiah Moersch REALTOR®

Office: 760-533-2540
Listing Agent
Daniel Shamooelian - Keller Williams Beverly Hills

Based on information from California Regional Multiple Listing Service, Inc. as of May 3rd, 2024 at 8:55pm 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.