1020 N Ardmore AVE, Los Angeles, CA 90029
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+1(562) 800-0228
$ 1,999,999
Est. payment | /mo

57 Beds

57 Baths

25,292 SqFt

Save
$ 1,999,999
Est. payment | /mo
Save

57 Beds

57 Baths

25,292 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 25,292 sqft

Price per Sqft $79

MLS Listing ID 26104720

Bedrooms 57

HOA Y/N No

Year Built 2026

Lot Size 8,916 Sqft

Property Description

Welcome to 1020 N ARDMORE AVE, a fully entitled RTI( Ready to Issue) permit project perfect for Developers, Investors, Contractors and Builders, ready to pull permits and to start building. This SHOVEL READY 100% Affordable ED1 project features 57 units including a manager's office that can be converted into a unit, 40-1 bedroom, 17- studios across a Type V, four story, fully stacked designed which features all wood frame floors on an almost 9,000 square foot lot plus an alley that is SB8 exempt and currently a vacant land. This design has a significant savings in construction costs and time maximizing the most units with much lower construction costs compared to 5 stories and taller projects such as, Type III. Located in one of Los Angeles most vibrant and high demand area, the property located in Hollywood close to Sunset BLVD with a walk score of 87, close to restaurants, coffee shops and shopping centers. Due to its central location, the area is within top employment hubs and is minutes from Larchmont, Silverlake, Hollywood Walk of FAME, Paramount Studios, Melrose Hills and it is a highly desirable and attractive area that has other brand new construction apartments buildings nearby. The property is located in a TOC Tier 3 area, close to the Vermont/Sunset Metro Subway Station, making this very walkable and bike friendly. The stackable design features 25,292 square feet of building area with units ranging from approx 300-456 square feet. Based on the most recent schedule 6 & 9 rents from the covenant, the total monthly rents from the 57 units would bring a monthly gross income of $123,044 and yearly gross income of $1,476,528, or a buyer can look into achieving higher rents with this property being located in Tier 5, Section 8 vouchers most recently updated voucher payment standards has amounts of $2,310 for 1 bd and $2,058 for Studios for this zip code (buyer to verify). Each floor has a laundry room, outdoor bicycle area and storage. The property is currently a vacant land ready to start building right away, shovel ready!! The plans have no parking required, so developers don't have to pencil the high costs that come with on-grade parking, increasing additional significant savings to the project's construction costs and affordability. A developer can break ground right away and there has been a lot of money invested in the area. Each unit is designed for maximum affordability and optimized rental income. This development presents a rare and immediate opportunity for developers to bring much-needed affordable housing to one of LA's most sought-after areas. BUYER TO VERIFY ALL!

Location

State CA

County Los Angeles

Area C20 - Hollywood

Zoning LAR3

Interior

Heating Central

Cooling Central Air

Fireplace No

Exterior

Parking Features None

View Y/N No

View None

Building

Story 4

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 5537018021

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Daniel Lalezari Keller Williams Hollywood Hills #01949474

Nearby Locations

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"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(562) 800-0228

sonia.amen@luxlivingestates.co

18000 Studebaker Rd Suite #700, Cerritos, CA 90703, USA

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1020 N Ardmore AVE