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$1,195,000
Est. payment /mo
6,080 Sqft Lot
UPDATED:
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 26783139
HOA Y/N No
Lot Size 6,080 Sqft
Property Description
Introducing "The Gardner II", an exceptional West Hollywood adjacent development opportunity with tremendous upside potential. The property will be delivered with Ready-to-Issue (RTI) plans to rebuild the pre-existing, nonconforming duplex of approximately 2,400 square feet plus a detached garage. The former owner-occupied duplex, which had no rental history according to records confirmed by the Los Angeles Housing Department (LAHD), was destroyed by fire in 2024 which allowed for rebuilding a new duplex via SEC. 12.23 of LA Planning Codes. Multiple potential pathways may support the highest and best use of the lot. After rebuilding the duplex, an owner may explore adding up to two Accessory Dwelling Units (ADU's) for additional rental income; separately selling qualifying ADUs as condominiums under AB 1033 if permitted and implemented by the City; pursuing an SB 1123 small-home-lot subdivision while retaining the duplex on a designated remainder parcel; or structuring a TIC resale of the completed residences. These potential rental, subdivision, and resale strategies may provide substantial flexibility and upside beyond a conventional multifamily sale. Located within one-half mile of the major transit stop at Melrose and Fairfax, the property is identified by ZIMAS as TOC Tier 1 and falls within the scope of AB 2097. Moments from The Grove, Melrose Avenue, and West Hollywood's dining, shopping, and nightlife. Truly an exceptional development opportunity all while being delivered with ready-to-issue plans for immediate development upon close of escrow.
Location
State CA
County Los Angeles
Area C19 - Beverly Center-Miracle Mile
Zoning LAR1
Interior
Fireplace No
Exterior
View Y/N No
View None
Building
Sewer Other
New Construction No
Others
Senior Community No
Tax ID 5526017003
Special Listing Condition Standard
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Listed by Oliver Thornton Hollywood Estates #01969227
Nearby School & Business
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