Asking Price: $4,600,000

We are proud to represent this rare R3 31,730 square foot lot in Noho. The property is being sold only for land value but an investor can have additional rental income while the property is being entitled. Of the 8 existing units, the single and three bedroom home are vacant. The property was constructed in 1955. Its unit mix consists of (2) studio units, (2) 1+1 units, (3) 2+1 units, and (1) 3+2 unit. With a lot size of 31,730 square feet, the property has a total of 5,224 rentable square feet. North Hollywood offers many things to see and do, especially in its NoHo Arts District, which has been greatly expanding into a hip, pedestrian-friendly urban village. North Hollywood has historic shopping and interesting local restaurants and bars that make it a diverse, thriving neighborhood. It is home to many theatres, art galleries, cafes, music recording venues, and shops. Its residents have easy access of public transportation with the Metro rail stations and the North Hollywood Red Line and Orange line bus ways. They also have easy access to the 101, 170, and 134 freeways. North Hollywood is currently working on a $1 billion mixed-use development at Lankershim and Chandler; the project will re-develop 15.6 acres of commercial and residential space, including 562 residential units and three high-rise office towers. This, combined with an already thriving Arts District, makes North Hollywood a smart place to invest.