5725 Melrose Ave, Los Angeles, CA 90038
- $1,573,000
- List Price
- $1,573,000
- MLS#
- 26823233
- Lot Size
- 6,424
- Lot Location
- Alley Access
- Days on Market
- 92
- Property Type
- Land
Property Description
We are pleased to present 5725 Melrose Ave, a vacant lot totaling 6,424 SF zoned C2-1D in a Tier 3 TOC located in a prime location on Melrose Ave in the Hancock Park & Larchmont Village neighborhood of Los Angeles. Ideal multifamily development opportunity with the ability to build 17 units by-right, 28 units if the TOC incentives are utilized, or additional density via ED-1 (Buyer to verify). Ideal location just down the street from Wilshire Country Club, Los Angeles Tennis Club and the Marlborough School; walking distance to numerous retail amenities along N Larchmont Blvd and half a mile from Paramount Studios; high walk score of 93. Located in a submarket with strong demographics; average household income of $91,486 within a 5-mile radius of the subject property and median home value of over $1 MM within two miles. Central location with an easy commute throughout Los Angeles to Hollywood, West Hollywood, Beverly Hills, Los Feliz, and La Brea. Unique opportunity to acquire a vacant lot with strong density potential and no relocation required.
Additional Information
- Lot Description
- Fenced, Lot Shape-Rectangular, Single Lot, Value In Land
- View
- None
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Courtesy of Lyon Stahl Investment Real Estate, Inc., Benjamin Lee - CA DRE#02123715
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