816 N Normandie Avenue Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90029
Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID CL25515145
HOA Y/N No
Lot Size 8,516 Sqft
Acres 0.2
Property Sub-Type Unimproved Land
Property Description
An exceptional affordable housing development opportunity awaits in the heart of Hollywood at 816 N Normandie Ave. This fully entitled and RTI (Ready to Issue) project offers a 40-unit residential development on a prime 8,512 SF lot at the coveted intersection of Normandie & Melrose. Designed under AB 2334 incentives, the six-story Type IA/IIIA building benefits from unlimited density for 100% affordable housing, making it an unparalleled investment opportunity. The project spans 23,520 SF and includes a diverse unit mix of 6 studios, 18 one-bedrooms, 15 two-bedrooms, and 1 three-bedroom unit. Of these, 1 unit is designated for very low income, 31 for low income, 7 for moderate income, and 1 as a market-rate unit. Each unit is designed for maximum affordability and optimized rental income, ranging from 386 to 547 SF, and the project is structured to eliminate parking requirements, further reducing construction costs and increasing long-term affordability. Located in one of Los Angeles' most vibrant and high-demand neighborhoods, this development sits within close proximity to top employment hubs, ensuring a steady stream of demand from professionals seeking affordable housing. The property is also well-connected to public transit, with nearby Metro stations and major bus lines, m
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Fireplace No
Exterior
Utilities Available Other Water/Sewer
View Y/N true
View City Lights
Building
New Construction No
Others
Tax ID 5538005015
Virtual Tour https://tours.la360vr.com/e/pSJV2qj